Cox Automotive UK has transferred both Dealer-Auction.com, which is an online auction for trade-in vehicles from UK franchise dealers, and Manheim Online, the online remarketing services division of Cox Automotive UK, to the joint venture. Meanwhile, Auto Trader has transferred its retailer-to-retailer platform Smart Buying, formally known as Autotrade-mail.
The three businesses have now been transferred into the new Dealer Auction, which will enable prospective buyers and sellers to visit one platform to view and buy a large selection of vehicles across the wholesale marketplace. While a new platform to combine the inventory is being built, customers will continue to buy and sell stock through the existing Dealer-Auction.com, Manheim Online and Smart Buying websites.
Around 70 people including experienced vehicle remarketers, auctioneers, a technology team of developers, designers and data scientists are working to combine the three businesses into a new single integrated platform which will be launched during the second half of 2019.
The strength of the data and insight that Auto Trader and Cox Automotive have is expected to benefit both buyers and sellers alike. Auto Trader has over 13,000 dealers who interact with its current platform and added to this will be the Manheim Online and Dealer-Auction.com buyer bases. This, coupled with Cox Automotive’s extensive physical remarketing services, will ensure that Dealer Auction has a new and compelling proposition for retailers, manufacturers and fleet companies.
The new Dealer Auction platform will provide a complete end-to-end solution that improves the speed of sale and profitability for vendors, and gives buyers access to a single, data-driven wholesale marketplace with easy access to additional services such as logistics and wholesale funding.
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