For global companies and other business terms like "fleet of foot" don't apply, but for those within the auto industry or at companies looking to disrupt markets they are pushing older companies into changing their ways.
Nowhere is this more apparent than in the auction and remarketing sector, where digital technology is moving resale opportunities upstream, enabling fleets and leasing companies to maximise residual values by minimising time to sell.
At the centre of change is Cox Automotive and its UK CEO Martin Forbes.
Forbes was appointed last July to oversee a business with multiple operations, including Manheim with its 16 remarketing centres and digital sales channel, RMS Automotive which provides lifecycle vehicle management for large fleets and leasing companies, and the Movex de-fleet and refurbishment service.
However, the wide – and at that point widening – portfolio of businesses was causing Cox something of a headache.
“I have a ‘do less, execute well’ mentality; Cox was trying to do too much,” Forbes says. “We needed to redefine and focus on what I call ‘core plus’. Core is our B2B wholesale business; the plus is our adjacencies – the businesses that drive the core: NextGear, our funding arm for dealers to buy stock, and Movex.
“We created confusion in the past; now we have a simple structure: Dealer Auctions, our new joint venture with Auto Trader; Manheim, our auction centre, inspect and collect, and de-fleet business; NextGear; and Modix, our digital marketing solution.”
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