Online vehicle auction sales increase by 65%

Online vehicle auction sales increase by 65%

New disposal routes to market are helping to maintain values as the number of used cars available continues to grow. Online vehicle auction sales platforms are helping to take the pressure off traditional disposal channels like physical motor auctions. Online vehicle auction platform 1link Disposal Network has seen a 65% YOY increase in the number of vehicles sold.

Tim Meadows, Commercial Director at epyx, said: “The success of PCP and fleet sales in the last few years means that there are increasing volumes of vehicles entering the used market.

“If these had all been pushed through motor auctions, it is unlikely that we’d have seen these values maintained.

“However, the fact that there are now well-established but newer online channels available has helped to dilute the effect of what could easily have become market oversupply.

”Tim added that channels such as 1link Disposal Network were increasingly being used to repatriate vehicles into dealer networks by manufacturers, using 1link and through white-label manufacturer branded sites.

He said: “We work with a number on this basis and the results we achieve are excellent. Certainly, the values are often ahead of the industry price guides and the asset made liquid more rapidly.

”Tim said that a key part of the success had been the speed. “We can take a car from end of lease to the showroom in a ready-to-retail state in a matter of days rather than weeks. This way, everyone in the supply chain wins. There are predictions that used volumes will continue to increase into the next year. We expect to see an ongoing growth in the number of vehicles sold through 1link Disposal Network.”