Cox Automotive is all set to reinvigorate its UK network of Manheim auction centers, which will include fewer yet bigger sites to foster the surging sales volume online.
At present, the company owns 16 discrete physical sites, which is anticipated to shrink in terms of number over the next few years in line with the evolution of larger sites offering a wide array of reconditioning as well as logistical hand over services.
As per Martin Forbes, CEO of Cox Automotive told, the count of sites would come down but the overall acreage would scale up as the drive gains momentum online.
The company is vying to expand its business framework to digital lines. This also means that company is definitely penetrating largely into vehicle-service, storage, transport, and de-fleeting services, which will be immensely instrumental to keep the organization future proof and profitable.
The firm has its utmost focus on the market of wholesale business-to-business. The company also sheds light on the big-time realization of the fact that demand in case of physical auction lanes will decelerate and a shift toward online channels will be induced, as conveyed by prospering online sales figures. In this case, the company strives to be keep up with the evolving trends to keep their business footprint strong than ever.
Highlights by Forbes on which direction the market is heading toward included examples of automakers disposing of new stock and ex-company cars via closed auctions. Many of the prominent OEMs believe that by 2023, around more than half of their wholesale used stock would be sold online and this belief relies on evolving facts and figures indicated by the recent trends.
Though the number of sites will be few, these sites will be extremely beneficial in terms of more acerage and will also provide you enough room for offering satisfactory services at the cost of minimum inconvenience.
The transformation of the auto business i.e. selling cars and trucks is flourishing at a meteoric pace like never before, comes along some new promises in terms of changes as an industry that has been long famed for high cost factor, unsatisfactory services, and so on. Auto manufacturers have landed on the grounds for a fierce competition in terms of driving out cost and rolling out offerings tailored to evolving consumer expectations and specifications. Apart from the online sales channels, some other channels have also gained notable prominence in terms of sales and decision-making.