Vehicle remarketing company G3 has shown an 18% year-on-year increase in sold units, a record year for the company.
G3 surpassed its predicted target of £80m hammer value of vehicles sold. The company also reported an increased volume of vehicles through both physical and e-auction events.
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The introduction of 360° internal and external videos alongside G3’s mobile inspection and asset management application – AVID – helped bolster online buyer activity by providing enhanced assessment of a vehicle’s condition. These business developments underpinned a 24% increase in bids throughout the year – with a significant boost in online buyer activity recorded.
G3’s joint managing director Matt Dale said: “Whilst we are immensely proud that 2018 has been our most successful year to date, the story certainly doesn’t stop here. In what will be our 10-year anniversary of trading, 2019 will see the business commence an ambitious 3-year growth plan to double our volumes and significantly increase our acreage capacity.”
G3 introduced a number of new vendors in 2018, including First Response Finance.
G3 Remarketing are centrally located in Leeds, West Yorkshire, holding 14 online and in-hall vehicle auctions each month. Their vendor roster includes a mix of fleet, finance and main dealers.
Last month Northampton-based car finance company Billing Finance became an early adopter of a self-appraisal app created by G3 Remarketing.
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By GlobalDataUsers of the ‘Go Appraise’ app can submit a step-by-step walk-around video alongside HD images to establish the current state of the exterior and interior of any vehicle from any location, using their own smart phone and tablet devices. It also includes a checklist to log value factors such as spare keys, handbooks and service documents, giving importance to each aspect.
Once submitted the app then creates and sends an appraisal report direct to the lender, offering the basis of discussions with the finance house and significantly supporting any vehicle handback including PCP or voluntary termination.
