Two years in the planning, and set up by senior figures within the automotive industry, the VRA represents the first time in the UK that the vehicle remarketing industry, which is estimated to handle and transact over 1.8 million vehicles each year worth in excess of £9 billion, has had its own dedicated trade organisation.

The VRA, a not-for-profit association, has laid out its mandate in three key areas:

• Industry best practice – to set high standards and common operational processes in areas such as vehicle inspection
• Learning & development – to drive up levels of professionalism and attract new talent to the industry
• Resolution of industry matters – a platform to debate and bring clear thinking on key remarketing issues, as well as lobbying relevant authorities where required.

Members already signed up to the VRA include Lex Autolease, Lombard, Manheim, BCA, Honda, RAC Inspection Services, Paragon Automotive, CAP, EurotaxGlass’s, Inchcape Retail, Fleet Auction Group, Arval and Autologic. Professor Colin Tourick has also added his weight to the association, as part of the strategy and thought-leadership team.

The chairman of the VRA is John Davies, currently a non-executive director of Autologic, who has previously held a number of prominent positions in the sector, including seven years as the managing director of Lloyds TSB Asset Finance.

He said: ‘When you consider how large and influential the sector is, it’s amazing it has not had its own trade body before, to represent the diverse range activities which remarketing comprises. We have thought very carefully about where we can drive improvements and properly engage in this important area of the automotive industry which is often overlooked and not truly recognised for the value it contributes.’

The VRA is targeting all organisations that are either remarketing service providers or which have a vested interest in remarketing, as owners of vehicles, such as fleet operators, leasing and rental companies, motor manufacturers and franchised dealer groups.

‘The VRA Board and its members are absolutely committed to improving the standards and overall professionalism in the remarketing sector. There are some major challenges ahead for our industry and it’s quite clear that remarketing has a big part to play in the recovery of the overall UK motor industry, as it embarks on what is going to be a fairly long road back to normality,’ Mr Davies said.

Companies wishing to find out more about the VRA can visit its website www.vehicle-remarketing.co.uk or call 01628 526208.