Independent dealers’ appetite for selling stock via digital channels has increased, according to new figures from Dealer Auction, the UK’s busiest digital wholesale marketplace.
Dealer Auction opened its platform for independents to actively sell their overage or part exchange stock on August 1st, 2021. During that month, the digital marketplace saw more than 300 independent dealers list vehicles on the platform. This number increased even further throughout September.
The supply of vehicles was matched by demand: it took an average of just two days for independent vehicles to sell and reserve prices were exceeded by an average of 9%. During this period, the average independent vehicle sold for over £10,000.
The data demonstrates that independents, driven by industry digitalisation and record high prices among used vehicles, are looking for smarter ways to curate their forecourts and ensure they extract maximum value from their stock.
With the value of vehicle models varying significantly in different areas of the country, independents have come to value digital solutions for their ability to connect them to a wider nationwide trade customer base, as well as their data-driven approach to optimising values and margins.
Dealer Auction Sales and Marketing Director, Sarah Marley, explained: “Amid the fast-moving market conditions we are seeing today, independent dealers are thinking harder about the vehicles they stock, and looking to move on unwanted vehicles to maximise their returns.
“Whereas historically, only franchised dealers might have been able to do this at scale, now digital platforms such as Dealer Auction afford independents the same possibility, flexibly and seamlessly. And, judging by our adverts from August and September, they are embracing the opportunity in numbers.
“Enabling independent dealers to sell via the platform was our way of responding to their evolving needs as the industry undergoes digitally-led transformation. We recognise that independent dealers want greater sales flexibility, but also need confidence that they are getting the best possible price. Dealer Auction is uniquely positioned to provide this, thanks to its integration with Auto Trader’s real-time pricing data and its array of tools to drive visibility and buyer interest.
“So far, the move is working equally well for sellers and buyers. It has led to an overall increase in stock volume and decrease in average vehicle age and mileage on our platform, while the returns and speed of sale are impressive.
“Independent dealers have always been a crucial part of Dealer Auction’s heritage, and we are proud to support them as they adapt to new ways of working. As we send thousands of stock alerts matching vehicles to buyers every day, we continually able offer the most efficient and profitable way to buy and sell vehicles.
