Leading British autos marketplace Auto Trader is providing dealers with a new way to access over 30,000 used cars sourced directly from consumers as part of its Dealer Auction joint venture with Mannheim.

In addition to private vehicle stock put on Auto Trader’s marketplace, vehicles acquired via its Guaranteed Part-Exchange (GPX) product, launched in March after successful beta testing and private sales from its Instant Cash Offer facility will be listed exclusively on Dealer Auction.  Auto Trader said more than 700 vehicles are directed to Dealer Auction every month via GPX.

The Instant Cash Offer product was launched in July 2020 and its valuations are underwritten by Manheim Auction Services, part of Cox Automotive U.K. Customers will be able to use the service without subscribing, though auction fees and transportation costs will still be levied.

“We designed GPX in response to changing consumer demands, and to provide our retailer partners with a profitable new channel for sourcing vital new stock,” said Karolina Edwards-Smajda, Auto Trader’s commercial product director.

“At a time when circa half a million vehicles are being taken out of the market each year by car-buying services, we saw an opportunity to make the part-exchange process work even harder for retailers.

“We have partnered with Cox Automotive to unlock new sources of stock, which will ultimately put vehicles back into the hands of retailers and on to their forecourts.”

Auto Trader is launching a new marketing campaign which aims to significantly increase this figure. Edwards-Smajda said, “whilst the current supply is relatively small, it’s growing fast each month.”

“One of the biggest challenges for our industry right now is sourcing stock,” said Le Etta Pearce, chief executive of Dealer Auction.

“Like consumers, retailers have turned to digital solutions in the past 12 months to buy stock and we see this trend continuing – not only giving greater choice but driving big efficiencies.”

 

 

 

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