AC MOTORS, a subsidiary of AC Industrials (ACI) — Ayala Corp.’s holding and investment firm for industrial technology, manufacturing, and vehicle distribution and retail interests — recently explained in greater detail the AC Motors Trade+ product.
Trade+ “is a business enterprise of AC Motors that offers diverse channels not limited to the trade-in business.” It presents a hybrid form of traditional and online vehicle auctioning for new buyers and existing owners that is seen to streamline the entire process of selling used cars. Its key value proposition is to offer “just a five-day turnaround time, from inspection, to auction, and payment.” Furthermore, customers will be able to trade in vehicles from any brand, not just those sold by AC Motors.
AC Motors becomes the first dealer group in the Philippines to launch a used car program of this nature — powered by online automotive portal ZigWheels.
In a release, AC Motors said, “What makes the Philippine car market unique is that most first-time buyers would opt for (vehicles) which are budget-friendly. The market’s aspiration, however, still leans towards owning a brand-new car despite the growing popularity of the used-car market.” Used cars have traditionally been the primary choice of buyers on a budget, but with the recent economic downturn in the wake of the pandemic, many still aspire to own a new car that comes complete with the latest technology and features, while still offering peace of mind.
Trade-in programs are said to have gained popularity and market acceptance. What has been missing, however, is a platform and system to benefit both clients selling their vehicles and companies willing to use the transaction as equity for a brand-new car. Existing trade-in programs can take up to three months before a transaction is completed.
“In turn, this delays the new-car purchase, risking the customer losing interest in the product and brand altogether. Then comes the risk of losing equitable market value for the car to be traded, opening up opportunities for undesirable parties to take advantage of customers willing to trade their vehicles. Instead of the dealer chalking up a sale of a brand-new model to a happy customer, such a delay would turn a mutually beneficial opportunity around completely, leading to an often irreversible negative customer experience,” stated AC Motors.
AC Motors Trade+ offers over 50 vehicle models to choose from, flexible finance and insurance options, and an in-house team of evaluation experts will ensure “exceptional customer experience and satisfaction.”
A customer signs up auction form and schedules an appointment to have the car inspected. A full vehicle inspection is expected to happen in 48 hours, after which the unit will be listed for auction.
The details obtained during the inspection will then be uploaded into the Trade+ system where interested parties can negotiate for a fair price. Prices are determined by technology that scours multiple online sources ensuring the proper market price.
When the customer accepts the price, the deal is finalized with the proceeds going to finance the customer’s new car of choice in five days. After getting a brand-new car, a customer can also enjoy “the benefits of proper after-sales services such as expert maintenance, industry-leading warranties, and unparalleled customer support.” Visit http://acmotors.com.ph/ for more information.
