British car supermarket group AvailableCar has signed a five-year agreement with Cox Automotive to dispose of used car stock.
The deal involves AvailableCar remarketing stock from four of its retail sites and its car buying service IsYourCarAvailable.com through Manheim Auction Services who will be responsible for AvailableCar’s full remarketing volume. The number of cars from this source is estimated to be 12,500 cars annually.
The new auction program began on February 20 and stock will be sold from Manheim’s Birmingham, Leeds and Washington physical auctions weekly, with all stock also available online via Simulcast. It is a continuation of the existing programme but with additional volume.
Cox Automotive said in a statement that the deal “also paves the way for a closer partnership between the two businesses, with Cox Automotive set to support AvailableCar deliver on its ambitious plans.
“AvailableCar and Cox Automotive have a longstanding relationship but this new contract is a step-change in terms of our mutual commitment,” said Sam Panayides, sales director at Cox Automotive.
AvailableCar is a family-owned business with stores in Castle Donington, Sutton-in-Ashfield, Cannock and Leeds, and retails over 25,000 vehicles each year.
“We’re not motivated by short term gain; this is a move that plays an important contribution towards the future-proofing of our business,” said AvailableCar’s chief executive Michael Bell.
“Since first awarding Manheim a proportion of our volume eighteen months ago, we’ve been very impressed with the team’s approach and the performance they’ve delivered. The transition was straight-forward and the hybrid physical and online sales programme is delivering well for us.”
In September, Manheim Auction Services launched an updated hybrid car auction program which combines physical and online auctions.
