19 Jan 15
News

Remarketing: an international business

One of the most striking trends on the second-hand cars market is the internationalization of this market. The reason why suppliers try to sell their vehicles, if possible, across borders is very simple: the possibility of getting better prices. In a certain area there can be a sufficient offering of used cars, while in an another area or country there is a shortage. The main problem is the organization of a remarketing operation at greater distances. The smaller players on the market in particular are not able to work across borders. Big companies are, however, ready to conquer more new markets further away from their homeland and by doing so those companies become bigger and bigger.

 

City Auction Group on the offensive

 

On the British used car market there is a new foreign player which has launched an aggressive attack. The Irish City Auction Group, a very well known player on the remarketing market, will this month take its first steps in the United Kingdom. The management of the group has announced the opening of a specialist automotive remarketing location at Rockingham Speedway, Northamptonshire. At this site the Irish company will organize auctions of used cars on behalf of leasing and contract hire companies and other fleet owners. Manufacturers, rental companies, insurers and other financial organizations can also auction their ‘surplus to requirements’ cars at the center. 

 

City Auction Group: a fast growing company

 

City Auction Group is of course not a new name on the remarketing market. In the last five years the company has been rapidly growing in its homeland, opening new centers in the cities of Belfast, Omagh and Dublin. City Auction Group has also become the biggest company auction organizer in Ireland. Manager Michael Tomalin now wants to export the success formula to the United Kingdom. The secret of this success formula is the use of the newest technology which makes it possible to offer a large range of vehicles of top quality to customers. By using high tech, City Auction Group gives dealers the opportunity to buy vehicles, no matter where in the world they are bidding from.

Authored by: Tim Harrup