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New trade association for remarketing industry

A new trade association has been launched for the vehicle remarketing industry to offer best practice as a not-for-profit organisation.

The Vehicle Remarketing Association (VRA) has been in the planning stages for the last two years and is being chaired by John Davies who spent seven years as managing director of Lloyds TSB Asset Finance. He is currently a non executive director of Autologic.

The VRA has laid out its mandate in three key areas:

  • Industry best practice - to set high standards and common operational processes in areas such as vehicle inspection
  • Learning and development - to drive up levels of professionalism and attract new talent to the industry
  • Resolution of industry matters – a platform to debate and bring clear thinking on key remarketing issues, as well as lobbying relevant authorities where required

Members already signed up to the VRA represent leading UK organisations who between them transport, refurbish, inspect or transact over 1.5 million vehicles each year.

They include Lex Autolease, Lombard, Manheim, BCA, Honda, RAC Inspection Services, Paragon Automotive, CAP, EurotaxGlass, Inchcape Retail, Fleet Auction Group, Arval and Autologic. Professor Colin Tourick has also added his weight to the association, as part of the strategy and thought-leadership team.

Davies said: “When you consider how large and influential the sector is, it’s amazing it has not had its own trade body before, to represent the diverse range activities which remarketing comprises.

"We have thought very carefully about where we can drive improvements and properly engage in this important area of the automotive industry which is often over-looked and not truly recognised for the value it contributes.”

Recruitment of members is now under way and VRA is targeting all organisations which are either remarketing service providers or which have a vested interest in remarketing, as owners of vehicles, such as fleet operators, leasing and rental companies, motor manufacturers and franchised dealer groups.

Davies added: “We are very keen to work alongside the other motor industry associations and we will certainly make our expertise available to other bodies when remarketing becomes an issue for their members."

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