John Bailey, chief executive of Manheim Europe, said the programme was aimed at helping to curb a lack of liquidity in the automotive trade, in turn preparing dealers to handle increased stock levels as the market recovers from the recession.

In the United States, NextGear Capital serves 17,000 dealers at over 1,000 auctions, offering a combined $1.7bn credit limit.

Bailey explained: ‘We recognise that a funding service of this nature is not only good for buyers, but it will benefit the entire industry. Market conditions are currently very buoyant, and we are likely to see an increase of supply returning to the wholesale market over the next 18 months.

‘Therefore, to be able to offer a regular injection of liquidity into the market, NextGear Capital’s stock funding programme will enable buyers to absorb more of this supply from vendors.’

Aiming to streamline the remarketing process, Manheim is investing heavily in its services. With over a quarter of its vehicles now sold online, the company relaunched its Simulcast web-based bidding platform in February to cater for the growing 11% of bids which now come from smartphone users. In the eight months since, Manheim said it had seen a 19% rise in users of Simulcast, and an 18% rise in the number of vehicles sold through the channel.

Condition reports are also being redesigned this year to include more images and extra information, while the web-based Seller Advance system is said to be enjoying popularity with fleets looking to quickly, accurately value vehicles.