UK car marketplace Auto Trader is providing retailers with access to new stock sourced directly from consumers. In addition to private stock, vehicles acquired from part exchanges and private sales made through its instant cash offer will be exclusively listed on the Dealer Auction platform.
Auto Trader’s commercial product director, Karolina Edwards-Smajda, said: “We designed Guaranteed Part-Exchange in response to changing consumer demands, and to provide our retailer partners with a profitable new channel for sourcing vital new stock.
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“At a time when circa half a million vehicles are being taken out of the market each year by car buying services, we saw an opportunity to make the part-exchange process work even harder for retailers. We have partnered with Cox Automotive to unlock new sources of stock, which will ultimately put vehicles back into the hands of retailers and onto their forecourts.”
This new service builds on Auto Trader’s Guaranteed Part-Exchange product. It will provide participating customers with access to this newly available stock on the Dealer Auction platform. Following a successful trial, Guaranteed Part-Exchange is now available to all of Auto Trader’s retail partners.
The system was designed to make the part-exchange process smoother, as well as move the journey online, where consumers are increasingly wanting the process to happen.
If the vehicle does not fit their stock profile or if a deal appears too risky, retailers can dispose of it through the underwritten disposal service for free.
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By GlobalDataThe Instant Cash Offer proposition provides consumers with an alternative to selling privately, with a ‘no haggle’ cash price for their car. Unlike alternative car buying services, all vehicles sold through this channel are put back into the retailer market via Dealer Auction.
Le Etta Pearce, chief executive officer of Dealer Auction, added: “One of the biggest challenges for our industry right now is sourcing stock. It’s an issue that this joint initiative with Auto Trader will help relieve. We’re delighted to be offering more retailers access to quality stock, quickly and conveniently.
“Like consumers, retailers have turned to digital solutions in the past 12 months to buy stock and we see this trend continuing – not only giving greater choice but driving big efficiencies. Where better to do this than via Dealer Auction and Auto Trader where they know they will get the best digital experience?”
Along with approximately 31,000 private consumer listings available on Auto Trader, there are also over 700 vehicles directed to Dealer Auction each month.
