The Dealer Auction online used car stocking platform has celebrated increased traction from independent retailers looking to “curate their forecourts” through vehicle disposals.
The platform was opened to independents keen to sell their overage or part exchange used cars stock on August 1 and more than 300 listed vehicles on the platform in the first month alone.
Supply was more than matched by demand, with cars taking an average of just two days to sell and reserve prices exceeded by an average of 9% as the average independent vehicle sold for over £10,000.
Dealer Auction sales and marketing director, Sarah Marley, said: “Amid the fast-moving market conditions we are seeing today, independent dealers are thinking harder about the vehicles they stock, and looking to move on unwanted vehicles to maximise their returns.
“Whereas historically, only franchised dealers might have been able to do this at scale, now digital platforms such as Dealer Auction afford independents the same possibility, flexibly and seamlessly.”
Marley added: “Enabling independent dealers to sell via the platform was our way of responding to their evolving needs as the industry undergoes digitally-led transformation.
“We recognise that independent dealers want greater sales flexibility, but also need confidence that they are getting the best possible price.
“Dealer Auction is uniquely positioned to provide this, thanks to its integration with Auto Trader’s real-time pricing data and its array of tools to drive visibility and buyer interest.
“So far, the move is working equally well for sellers and buyers. It has led to an overall increase in stock volume and decrease in average vehicle age and mileage on our platform, while the returns and speed of sale are impressive.”
Earlier this month AM reported how competition for used car stock had continued to grow in September as used car retail values rose 21.4% to reach a new record high on Auto Trader after 18 consecutive months of appreciation.
Auto Trader’s insight came as remarketing giant Cox Automotive revealed the average sale price of a used vehicle at auction had increased 9.8% (£639) month-on-month, to £7,152.
Last month Cox saw CAP clean values increase again, achieving over 103%, while age points and first-time conversions achieved the highest ever seen at Manheim, at over 91%.