AutoFlip coming to NZ
Following its successful launch across the Tasman almost three years ago, motor-vehicle marketplace AutoFlip is being brought to New Zealand.
It’s an online platform that enables quick and easy trading by connecting private sellers and car businesses.
It will now be available here with Patrick Davey and Ken Quigley, of Davey New Zealand, purchasing the franchise.
AutoFlip was founded by car-industry professionals frustrated with the lack of transparency in the used-vehicle market. Its foray into this country comes via the partnership with Davey and Quigley, pictured above.
“Patrick and I are very excited for the opportunity to be in partnership with such an innovative company,” says Quigley. “With the success of AutoFlip in Australia, it’s a natural fit for New Zealand. Dealers are always struggling to find stock at a fair price. This platform will change the landscape moving forward.”
Takayoshi Udagawa, AutoFlip’s chief executive officer, adds: “We’re thrilled to take this first step in the evolution of AutoFlip. We extend our best wishes to Ken and Patrick as they spearhead the brand and business in New Zealand.”
Navigating the challenges of New Zealand’s market, AutoFlip sought local partners who understand its intricacies. The year-long journey from an initial online meeting has culminated in a partnership that promises not just commercial success, but a shared vision for a more efficient solution for selling and buying cars.
The collaboration leverages the technology and operational model developed in Australia to meet the needs of Kiwi consumers and dealers.
Signing up to service
Motor-vehicle traders in New Zealand can register their interest in joining the network at www.autoflip.co.nz before the platform officially launches to private sellers here in 2024.
All car dealers have to do is send an email to the address listed on the website and a member of the team will get in touch. From February next year and after signing up, registered traders can buy vehicles directly from AutoFlip’s private sellers.
When it comes to retailing, the AutoFlip team finds the best prices for vehicles. After entering a car’s details, a profile is made visible to its dealers and wholesalers.
The private seller is then offered the highest bid from its network of buyers. When sold, the vehicle is picked up and cash deposited into the dealer’s bank account right away. The platform offers custom filtering and notifications for dealers, and there are no sign-up or subscription fees – traders only pay when a deal is done.
The AutoFlip story
Founded around two-and-a-half years ago, AutoFlip now boasts about 65 employees and more than 850 licensed dealers in Australia.
It has achieved AU$135 million in vehicle sales since inception and is on-track to achieve year-on-year revenue growth of more than 100 per cent in 2023.
The latest chapter in AutoFlip’s success story unfolds with Quigley and Davey, two seasoned entrepreneurs. Between them, they have notched up more than 40 years in automotive, including owning and operating the successful Portage Cars dealerships.
AutoFlip is backed by IDOM Innovations. It’s the corporate venture arm of Tokyo Stock Exchange-listed IDOM Inc, which boasts more than 25 years’ experience in the wholesale car industry.
Pictured below is the official signing event with a novelty key. From left, Masaya Katsuta, chief strategy officer at AutoFlip, CEO Takayoshi Udagawa, and Patrick Davey and Ken Quigley, of AutoFlip NZ
