“It’s going well,” said Mark Turner, managing director of lotsof.net. “The idea of the website is a new concept and it’s hitting the spot. More people have signed than we thought would.”
Turner’s goal is to have 740 dealers on board by the end of the year. “We’re on track to achieve this. We have a database and we contact dealers that way, then we go and see them and tell them about our product,” said Turner. “We want the average dealer to sell between ten and 18 vehicles every year. On the whole the service allows dealers to dip in and out of the fleet market. They can strategically adjust margins when they want to attract buyers.”
Dealers pay a subscription fee between £70 and £308 per month. The amount paid dictates the transaction fee for each vehicle sold, which varies from £50 to £5.
Meanwhile, the number of contract hire and leasing companies currently signed up to lotsof.net is around 400, Turner’s initial target.