etiQcar: the 1st electronic price tag for cars

To Category Via ID's news

Posted on 26 August 2021

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Meet etiQcar, one of Moove Lab’s 7th batch startups – the mobility & autotech focused accelerator program, co-founded by Via ID and the CNPA – that builds the first electronic and connected price tag for automotive distributors.

 

 

etiQcar startup presentation

 

etiQcar: an electronic and connected used car price update

What is etiQcar?

Founded in February 2021 by David Nedelec, etiQcar is developing the first electronic and connected label to automate the updating of used vehicles prices in car fleets.

 

“The reason why distributors don’t change their prices more frequently is because it’s nearly impossible for them to change several dozen price tags manually every day.” Explains David, former salesman and automotive sales manager.

 

Although this dynamic label has been created in order to change cars’ prices on a regular basis, it will also display a lot of information related to each vehicle, such as: current promotional offers, possible financing, warranty extensions, maintenance contracts, etc.

 

“This dynamic display allows us to show consistent information between what the customer sees on the internet and then in the dealership, to apply less sudden and more regular price drops, and to accelerate the used vehicles fleet rotation with personalized commercial offers.” 

A product that comes with many benefits:

 

How does it work? 

The startup developed a platform to ease the labels update: “Car dealers already use inventory management software. All we have to do is link our platform to the used software in order to gather each vehicle information, associate a label with it, and then a display template. The label can be customized remotely and the display management centralized in one click.” Says David. The startup wants to interface its platform with the most used management software.

Also, the labels have been designed to meet temperature constraints, to have a connection that works anywhere without any facilities, and with an autonomy of 6 months to avoid a too frequent recharging. 

How did they get the idea?

With a 19 years experience in the automotive industry – as a salesman and also as a used cars sales manager – David Nedelec starts from an observation: “When you manage a fleet of 200 vehicles, when the price display has to be changed, when there is an error on a label, it is quite laborious to do and it takes time. The sales manager has no way of checking the labels’ display, other than doing it physically.”

Today, the price found on the internet is not always identical to the price displayed in the dealership, whereas it is important to ensure consistency between the “virtual” price and the physical price: “50% of used cars have a display error (related to price, mileage, etc.) and 40% display identical psychological prices when each used car is unique and the price should change in theory, every day.”

David was then inspired by the electronic labels used in mass distribution. In June 2019, he participated in a startup weekend to present his project. That is where he met his partner, Houssem Laroussi, with whom he won the first prize: a coaching at Euratechnologies. 

The project was born in 2019, the startup was created in February 2021, and a few months later etiQcar launched a first production of about 50 labels in order to test them in different car dealerships.

etiQcar’s next steps

The startup has been benefiting from the Moove Lab’s support since April 2021, only 2 months after its creation:

“The Moove Lab allows us to have support on best practices through workshops, to be in touch with the automotive market network, and to have visibility among the automotive distribution groups.”

David Nedelec, CEO Etiqcar.

In the future, Etiqcar wants to launch a larger scale industrial production with a higher volume of electronic tags. The company’s ambition is to expand its business worldwide by equipping as many players in the used car trade as possible, in order to achieve its primary goal: to improve car dealers  operational efficiency.