Companies should use online auctions for hard-to-sell vehicles

Companies should look to online auctions for vehicles that struggle to sell at physical auction, according to Autorola.

Jon Mitchell, sales director at Autorola, suggests this approach can reduce days to sale by 10.

Instead of vehicles sitting around for several weeks following a physical auction, they are remarketed online while sitting at the physical auction then transported direct to the buyer saving unnecessary transport cost.

LeasePlan recently began taking this approach with Autorola for its commercial vehicles.   

“It’s quite invaluable for LeasePlan because it’s not having to wait and take the drop in residual value a couple of weeks later,” Mitchell said. 

Helping leasing companies to liquidate stock between physical sales is also  “a way in” for Autorola if leasing companies are locked into long contracts with other remarketing providers.

“This is often not covered with their contract,” Mitchell explained. “If vehicles don’t sell they have the right to sell them elsewhere.”

Leasing is a sector that Autorola is “jumping into more heavily”, according to Mitchell.

“There are some leasing companies in our pipeline at various stages,” he said.

Read more about Autorola’s growth plans here.