Cox Automotive’s trade-to-trade online auction, Dealer Auction, has confirm it expects to hit its target of selling over 80,000 part-exchange cars this year.
The business, which sources exclusively from franchised dealer, is offering over 8,000 trade cars each month to more than 4,500 active buyers. The company now employs 15 people.
Gavin Smith, managing director of Dealer Auction, said: “In 2009, we sold just 6,000 units, so it is incredible to see how the business has grown over the past eight years, accelerated by becoming part of Cox Automotive in 2012. We now have more than 1,000 franchised dealers selling on our platform.
“Our online auctions run for between one and seven days, and our team of experienced motor trade sales negotiators work with both buyers and sellers to close sales on any vehicles that do not meet their reserve, helping to get the best deal for both parties.”
Clive Colyer, fellow managing director of Dealer Auction, added: “We find that dealers really like our low annual subscription rate, our low fixed prices for sellers, and low structured fees for buyers. With an auction ending every 60 seconds, there is constant activity on our online auction platform and buyers have access to a wide range of vehicles from across the UK.”
“We have benefited from being part of Cox Automotive by being able to offer dealers the ability to directly fund vehicles through a dealers’ NextGear Capital stocking plan, to get a quote for transport via online vehicle logistics platform, Movex, and start retailing the vehicle on Motors.co.uk within minutes of purchasing it.”