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IARM electronic auction goes nationwide in ’05

Inchcape Automotive Remarketing Management (IARM) is rolling out its electronic auction service to all 4,000 of its franchised and independent dealer customers from January.

The company says it now has all the routes to market covered for remarketing ex-fleet cars.

The first auction will be held on January 12. By March 2005, Inchcape expects to be holding at least one auction a week of between 50-60 vehicles. It expects to sell 3,000 cars in 2005 and 5,000 in 2006.

IARM clients include Alfa Romeo, Fiat, Bank of Scotland Vehicle Finance, Mazda, MG Rover and Inchcape’s own Fleet Solutions. Although the company only conducts electronic auctions for Alfa Romeo and Fiat it is in talks with five other manufacturers.

“We have developed long-term relationships with many of the biggest names in the motor industry to enable them to remarket ex-fleet vehicles into the used car market as cost-effectively and efficiently as possible through a combination of sales channels,” says David Rathband, operations director of Inchcape Automotive Remarketing Management.

“We are using our market expertise to manage the whole de-fleet and sales process through a combination of online disposal management and resale tools.”

The company developed the service after polling its customers and is in addition to the physical Corby Trade Sales centre with 500 cars, and the sales team who use e-mail, fax, telephones calls and text messages to communicate with customers.

Inchcape has invested £5m in the service, the majority of which has gone on developing the auction software in-house.

Called Intelligent Management System, it also determines the best locations for re-marketing cars by monitoring buying patterns.

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