As part of the agreement, around 90,000 units per year in normal market conditions are expected to receive the services provided at Cox Automotive’s vehicle services facilities at Bruntingthorpe.
The agreement is an extension of a nine-year partnership between the two companies, which began in 2013. Manheim will handle the solus supply of defleet services for all Volkswagen Financial Services UK owned vehicles.
Neil Weddell, head of asset risk and remarketing at Volkswagen Financial Services UK, said: “Our partnership with Manheim has seen significant growth over the past nine years, with smooth and efficient processes that have helped deliver the vehicle remarketing services that we offer.”
Sam Panayides, sales director at Cox Automotive, added: “We’ve enjoyed a strong partnership with Volkswagen Financial Services UK over the years, handling a high volume of vehicles every year and delivering to the company’s expectations. This was important in continuing our relationship into the future.”
Cox Automotive has said that “volatility” is set to define the car retail sector in 2022 as stuttering car supplies combine with rising inflation and changes to OEM and consumer relationships.
AM's recent Outlook 2022 car dealer survey conducted in partnership with JudgeService, showed that car retailers were looking ahead to this year with uncertainty, but the National Franchised Dealers Association (NFDA) highlighted that there was "cause for optimism".
In an exclusive AM 'guest opinion' piece, Volkswagen Financial Services UK chief executive, Mike Todd, reflects on the sector's rapid evolution and offers insight about what's needed to adapt to the road ahead.