I’ve been surprised by the amount of engagement my last post has drawn. One thing I have been asked by those who are close to me is, “why go again?”. The answer is: I’m still energised and motivated by the automotive business and the people in it.
With this in mind, from the moment I announced I would be leaving Pendragon I could turn my mind to the future of automotive retail. Most business practice in new and used vehicle distribution predates the internet age and no longer benefits OEMs, franchise holders or customers – what next?
I have spent a year forming a team who have the knowledge and experience to drive the digital and resource transformation that’s required to re-engineer parts of the industry that aren’t functioning efficiently. We’ve been having discussions with a number of parties in relation to used car retailing and new car distribution models. These include OEMs, dealer groups, fleet owners and others who are looking to navigate their entry into the space.
I’ve been able to have the kind of candid discussions that would not have happened as the CEO of Pendragon. Previously people were speaking to me because I was the CEO of Pendragon, now people speak to me because of the insights that my experience has given me.
One of the things that surprised me is the amount of investment that is potentially available for the sector. There are a both industry insiders who recognise the need for change and new participants who see the huge potential. It’s reassuring to know that the UK is still seen as a leading automotive marketplace in the eyes of international investors.
The Covid-19 pandemic has woken up several of the incumbent players to flaws in the current business models and provides a further push for change that may have taken longer to be necessary. As Covid-19 retreats and the brave advance, my next communication will be to publicly launch our new business.
Until then take care.
