The UK’s Vehicle Remarketing Association (VRA) and the Car Remarketing Association of Europe (CARA) have signed a new agreement committing to closer collaboration.
The memorandum of understanding approved by both boards recognises “the benefits of co-operation in the future to the benefit of our members”. It grants each organisation corporate membership of the other.
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It also recognises the potential for swapping best practice ideas, sharing expertise, campaigning together on key issues affecting the remarketing sector internationally and potentially holding joint events.
Philip Nothard, VRA chair, said: “We’ve been talking to CARA on an informal basis for some time and it is clear that we have much in common as industry bodies and much to gain from working together in a manner that adds value for members.
“The memorandum of understanding, which has the backing of directors across both organisations, is an agreement that will allow us to investigate future areas of co-operation. This is as an exciting development with significant potential.”
Luis Maria Perez-Serrano, chair at CARA, added: “CARA and the VRA fulfil very similar roles in the UK and Europe, providing a valuable forum for the remarketing sector in their respective territories. We welcome this agreement, the opportunity to work side-by-side and establishing closer links.”
CARA was created in 2015 as an international non-profit organisation to support the European market for used cars, with a membership active in sectors such as car manufacturing, fleet management, leasing, car auctions, car service providers and car data management.
Launched in 2010, the VRA is an industry body for companies involved in all aspects of remarketing used cars. Together, its members handle, sell, inspect, transport or manage more than 1.5 million used vehicles every year.
