Motorway will reveal private car sellers’ reserve price after retailers requested the functionality to help better pitch their bids.
The online stocking portal, which links car retailers with private used cars sellers from across the UK, said that the new functionality on its Motorway Pro platform would allow bidders to engage with greater confidence.
James Bush, sales director at Motorway, said: “Listening to our dealer community and acting on their feedback is fundamental to how we build our platform. Motorway is designed to make purchasing the best stock far more efficient by leveraging technology, and cutting out the middlemen.
“Our dealers told us that seeing the sellers’ reserve price would help them make more informed bids faster, so that’s exactly what we’ve done.
“Coupled with our recently-launched proxy bidding feature and additional filters, we are equipping our dealers with the market’s most powerful platform to secure exclusive stock direct from private sellers at the best possible price.”
Motorway’s introduction of reserve price transparency follows the launch of its new Proxy Bidding technology last week, which allows dealers to set the maximum they’re willing to pay for any car, with Motorway’s technology bidding up on their behalf in £100 increments.
Motorway has also introduced additional filters which allow retailers to filter by ‘Auction’ to see vehicles live in Motorway’s daily auctions, or ‘Buy it now’ to see vehicles available to purchase instantly after the auction ends at a lower price.
All new dealers to the platform are also being offered free transport on their first purchase through Motorway up until the end of 2020.
In a statement issued to AM today (December 11), Motorway said that the new platform developments made for an “even-more seamless experience”.