A new trade association has been established in order to
represent the remarketing industry, which turns over £9 billion
each year.

The Vehicle Remarketing
Association (VRA) is a not for profit association, set up by
senior members of the remarketing industry, both inventory owners
and service providers. Its inaugural chairman is John Davies,
currently a non-executive director of Autologic, who spent seven
years as MD of Lloyds TSB Asset Finance.

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At the VRA’s launch on March 1, its membership list included
Arval, Autologic, BCA, CAP, EurotaxGlass, Fleet Auction Group,
Honda, Inchcape Retail, Lex Autolease, Lombard, Manheim, Paragon
Automotive, and RAC Inspection Services.

The VRA said its mandate would initially focus on three
areas:

  • Industry best practice – to set high standards and common
    operational processes in areas such as vehicle inspection
  • Learning and development  – to drive up levels of
    professionalism and attract new talent to the industry
  • Resolution of industry matters – a platform to debate and bring
    clear thinking on key remarketing issues, as well as lobbying
    relevant authorities where required

Davies said: “When you consider how large and influential the
sector is, it’s amazing it has not had its own trade body before,
to represent the diverse range activities which remarketing
comprises.

“We have thought very carefully about where we can drive
improvements and properly engage in this important area of the
automotive industry which is often over-looked and not truly
recognised for the value it contributes.”

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The VRA said it was now looking to recruit more members from any
organisation which has “a vested interest in remarketing” – such as
fleet operators, leasing and rental companies, motor manufacturers
and franchised dealer groups.

“We are very keen to work alongside the other motor industry
associations and we will certainly make our expertise available to
other bodies when remarketing becomes an issue for their members,”
Davies added.