Fleet News

Vehicle Remarketing Association launched

A new organisation dedicated to vehicle remarketing could soon be helping fleets achieve higher returns on resale stock.

Best practice and standardisation have been identified as major areas of activity by the Vehicle Remarketing Association, the first trade group to be specifically tailored to the needs of an industry thought to have an annual turnover of more than £9 billion.

“Efficiency is the key – saving just £1 on inspection processes alone would play a big part in the holding cost of vehicles and represent a massive benefit across the 1.8 million transactions handled each year by members,” said chairman John Davies.

“This association was formed to fill a gap left by existing trade bodies like the VBRLA, SMMT and the IMI, who cover our sector but only at a very high level and not in the detail that we want.

“Far from being in opposition, we see ourselves working closely with them to form a powerful lobbying voice for the industry in general – and when the other trade associations need input from the remarketing sector, we hope they will talk to us.

“I’m very encouraged by the response and the membership already represents transport, auction houses, retail dealerships, refurbishers and the used car data providers. We hope to have across the board representation with more than 100 members in a few months’ time,” added Davies, former managing director of Lloyds TSB Asset Finance.

Unique in Europe, the non-profit organisation is aimed at standardising vehicle inspection, staff recruitment and training and providing a platform to debate key remarketing issues.

“Our business was referred to as disposals until a few years ago and the sector has suffered an identity crisis, even though it employs around 50,000 people. We’re not declaring UDI – we’re just a like-minded group of individuals who see an opportunity to raise standards and make our industry more professional with a bespoke body.

“Our relationships with other organisations will not be affected,” said Manheim spokesman Rob Barr.

When it comes to disposing of cars and commercial vehicles, auctions have long been regarded as the most efficient method. However, it’s important fleets understand how they operate as well as what’s happening in the marketplace. Vist the Fleet News Remarketing section to find out more.
 

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