Independent car dealers across the UK are increasingly turning to online auctions to find their used stock, a survey by Cooper Solutions has found.
Dealers have upped their use of e-auctions over the last 12 months – with 43 per cent of stock purchased now done so through online platforms, compared to just 32 per cent a year ago.
We surveyed dealers across the UK to coincide with the third anniversary of the launch of the firm’s online trade vehicle platform FullAuction.
E-auctions remain the most popular source for purchasing trade vehicles, followed by physical auctions (25 per cent) and sales direct from dealers (22 per cent) - down from 30 per cent and 29 per cent 12 months ago, respectively.
Nearly three quarters of respondents (72 per cent) said they would make all trade stock purchases through e-auctions if the right stock was available, while 35 per cent claimed to have three or more online auction accounts.
Dealers pinpointed time savings and ease of use as major benefits of using e-auctions, with average dealers buying 17 cars a month using online platforms.
Dealers were also asked to identify how they feel FullAuction differs from other platforms.
Barry Cooper, Managing Director of Cooper Solutions, said; “The findings pinpointed that users value the people side of the platform just as much as its ease of use. Alternative routes to market trade vehicles have been on the up over the last two or three years and the results of the survey prove the popularity shows no sign of letting up. While many respondents identified money and time saved as key benefits of using e-auctions, it was interesting that users also place a really strong emphasis on the support from people behind our FullAuction platform. Although e-auctions take away the physical interaction between buyers and sellers, it is clear dealers place great emphasis on the communication and helpfulness of our team in adding significant value during the sale process.”
Over 27,000 sales have been made through FullAuction since its launch by Cooper Solutions in July 2011.
Dealers were also asked to name the strangest or funniest item they have found in a vehicle they’ve purchased as part of the survey.
Answers ranged from underwear, false teeth, and old war items, to love letters and a live rabbit underneath the bonnet plus someone’s ashes in an urn!
Barry added: “The team was shocked by some of the items previous owners were said to have been left behind, but not surprised that they were never subsequently claimed!”
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