Cars Direct has relaunched itself as CD Auction Group.

The company is to be renamed after 21 years of trading and will expand its remarketing IT system to incorporate sales channels for plant, machinery and office and other equipment.

So far two new divisions, Plant Mart and Pre-loved Office, operate in parallel with Cars Direct to offer remarketing outlets for business assets.

The new business name has been created to better reflect the full range of sales and support services now available across the group.

The move also involves a redesign of the company’s website - the hub of its online sales operation.

“It’s always a tough decision to change a successful name and brand, but we felt this was the right time to make this move,” said Roger Woodward, managing director of CD Auction Group.

“After 21 years of growth and innovation, the company is about more than just remarketing cars direct from vendor to buyer. For starters, we now sell more than just cars with regular weekly auctions for commercial vehicles and some industrial plant and equipment.

“For many years we have offered a full fleet management and remarketing programme, including logistics and refurbishment; more recently we have developed intranet services for major leasing companies, allowing inter-company stock management and remarketing of de-fleeted vehicles.

“The core of our business – direct, online sales from trusted and reliable vendors to an active and growing group of buyers – will not change but, like the internet itself, we are constantly developing and moving forward.”