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Best used car stock now ‘largely sold online’

Time 5 years ago

THE BEST used car stock is now largely being sold online in a ready-to-retail condition to dealers, reports Epyx.

The company, which operates the 1link Disposal Network e-commerce platform, is now seeing a businesses make an effort to recondition and resell their defleeted stock. As further PCP stock returns to market, they are now predicting this trend will only increase.

Epyx commercial director David Goodyear said: ‘There are ever larger numbers of PCPs and other leasing returns coming to the market and this has required manufacturers and leasing companies to rethink their approach to disposal in some important ways.

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‘What we are seeing is a concerted effort to defleet, recondition and resell stock as quickly as possible, generally in days rather than weeks, in order to free up capital rapidly and meet growing dealer demand for ready-to-retail cars and vans.

‘The best way to do this is online, purely because the process is much faster than sending the car to a traditional auction, and potentially places the vehicle in front of many more buyers.

‘There is no question in our minds that the best stock is now largely being sold online.’

Goodyear added that the majority of stock now sold at physical auctions tended to be of lesser quality.

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He explained: ‘While there are exceptions such as certain specialist sales, the general standard of stock sold through traditional channels is not quite as good as we see online and is priced accordingly.

‘I believe that what we are seeing happen, as availability of stock increases, is an increasing stratification of the market as those selling cars seek out the most effective solutions.

‘The best, fastest-to-sell stock goes through online channels and below that are different levels of quality with the poorest finding their way into general auction sales.’

1link Disposal Network is used by manufacturers and fleets to manage online the selling of defleet stock to traders and dealers through a wide variety of channels including online and auctions.

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Rebecca Chaplin's avatar

Rebecca has been a motoring and business journalist since 2014, previously writing and presenting for titles such as the Press Association, Auto Express and Car Buyer. She has worked in many roles for Car Dealer Magazine’s publisher Blackball Media including head of editorial.

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