INCHCAPE Automotive Remarketing Management’s first online auction saw more than 160 buyers and 40 dealers logging in.

Registered buyers can now log on to the firm’s letsbid4cars.co.uk sale site, which is part of a major expansion into the electronic auction market. Previously, the firm had only held closed auctions for Alfa Romeo and Fiat.

Operations director David Rathband said: ‘Demand for electronic auctions is rising rapidly in the used car buying community and we had a very positive reaction from buyers to the first small sale, which was a no-reserve auction.’