Fleet disposals exceeding pre-lockdown volumes, epyx reports
Fast-rising dealer demand for used cars has led epyx’s fleet remarketing platform to exceed pre-lockdown levels.
The 1link Disposal Network is used by major fleets such as leasing companies to sell cars and vans to a community of more than 3,000 independent and franchise traders – and over the last week sales volumes have ramped up and are exceeding levels seen in March prior to the lockdown.
Debbie Fox, commercial director at epyx, commented: “When dealers first reopened a few weeks ago, there was still very little activity on the platform because they needed to sell stock that they had been holding for several months.
“However, most have had a very buoyant immediate post-lockdown period and now need to replenish their stock levels, so we are starting to see that feeding through into increased demand.”
Fox added that the supply side was also beginning to improve, with fleets that provide stock onto the platform entering into relatively routine defleeting.
“Of course, there’s a question mark over whether this represents the kind of trading pattern that we will see for the rest of the year – and no-one knows the answer to that – but we do seem to be back into a relatively normal cycle of selling and replenishing stock,” she continued.
Fox also pinpointed signs that traders were looking generally to source more stock online following the coronavirus crisis.
“On the trader side of the platform, we’ve had more than 200 dealers requesting to join during the last five months and one way of interpreting this trend is that more dealers are recognising that digital sources of stock are becoming more important to them in the new normal.
“Our view has long been that physical auctions will always have a place in remarketing, and any hopefully temporary issues caused by the current situation have not changed that fact, but buying online undoubtedly makes sense to many at the moment.”