The 55-year-old, who is originally from Hudiksvall but now lives with his family outside Norrköping, admits that he is not a car freak.
– For me, a car means freedom of movement and I find the car very practical. “What attracted me to Wayke is the way the company combines software with a digital marketplace,” says Patrik Settlin.
Wayke was launched in 2017 by the Motor Industry Confederation (MRF) and a number of car dealers who wanted to create an online marketplace for cars and also build a digital system to handle the car at dealers throughout the entire process. From purchasing and preparation to advertising and sales.
– The software part may not be so well known to the outside world, but it is extremely important for creating an efficient process, says Patrik Settlin.
The automotive industry has experienced it some difficult years when the economy was weak and interest rates were raised. Wayke sells both new and used cars. The block dominates the market in Sweden, but was criticized by both retailers and customers after its advertising space was redesigned last fall.
– The curves at Wayke have increased, both in terms of traffic to the location and the affiliated car dealers. But we expect the bloc to sort this out and come back strong. “We have to sharpen ourselves in several ways in order to continue to grow,” says Patrik Settlin.
The current CEO, Martin Fransson, will remain with the company, but will focus on the platform’s business development and Wayke will expand into additional markets. The company is already present in Norway, with Finland coming next.
“We complement each other very well because Martin really knows everything about the automotive industry,” says Patrik Settlin.
He started working with e-commerce at the turn of the millennium, interested in the big transformation.
“I think it’s interesting to see how the boundaries of what we buy digitally have shifted,” he says.
For two years, 2014-2015, he was CEO of the e-commerce company Cdon as it evolved from a traditional e-retailer to a marketplace where goods are brokered. He was a product manager at the IT group Visma and CEO of Lithium, which, among other things, develops cloud services as a service. Most recently, he comes from his own company, Raizer, where he worked to grow other companies with digital commerce and AI.
He believes the car business will be driven more by AI chats.
– You will ask your personal AI agent to conduct research based on your own preferences. There will be two digital surfaces that meet and we need to ensure we have the right data models to meet this need. In addition, dealers must have complete transparency about the condition of the car, says Patrik Settlin.
Digital solutions do that the role of car dealers is changing, but many still want human encounters.
– There seems to have been a backlash that places greater value on meeting in person. Digital channels solve a matching problem, but ultimately it is the people who settle the deal, says Patrik Settlin.
He and his partner both drive older cars, a 2012 BMW X3 and a 2010 Volvo V70. Both diesel-powered.
– They stayed because they were so practical. But now that I’m moving into the world of cars, I can update the vehicle fleet. The next car will be an electric car or plug-in hybrid, says Patrik Settlin.
Facts.Wayke’s new CEO
Life: In Kolmården outside Norrköping.
Age: 55 years.
Family: Partner and two sons, 8 and 11 years old.
Career: Management positions at Inwarehouse and Complete Group, CEO of Cdon, trading and product manager at Visma, CEO of Lithium, CEO of Raizer.
Leisure time: Be with the family. Watch many sports, especially American football. Long time against the San Francisco 49ers. Hockey is what Brynä’s heart beats for.
My first car memory: I remember being little and crawling onto the parcel shelf in the family Volvo while driving and being told to get out.
Read more:
Avoiding a bad car purchase with the help of AI
Car dealers rail against new blocket: “Many will be forced to block again”
Read more about mobility and the green transformation of the transport sector at di.se/mobilitet
