Kia UK has partnered with Dealer Auction to digitally remarket vehicles exclusively to its franchised retail partners.
Up to 600 Kia cars will be sold via bespoke quarterly 24-hour auction events. Vehicles will be prepared to Kia’s Approved Used Car Standard and made available to approved Kia retailers only via an exclusive closed network.
The new format replaces the ‘green screen’ auctions previously run by Dealer Auction on behalf of Kia and promises an improved experience for buyers and performance gains for the manufacturer. Sales will be held quarterly and will concentrate on high value and strategically important Kia vehicles in the first instance.
Paul Williams, National Used Vehicle Sales Manager for Kia comments: “Like most manufacturers, we want to give our franchised retailers first refusal on our used vehicle stock. It’s right we reward their investment in the Kia brand by ensuring they have the best opportunity to secure quality stock for their forecourts, but it also plays an important role in protecting residual values and providing an opportunity to secure new customers. Competition for used stock has increased significantly of late and we’re taking positive action to look after our retail partners.
“The Dealer Auction platform is simple to use and very effective in driving strong buyer engagement and exceptional performance. While our focus as a vendor is on the closed network, feedback from our retailers is that they also value being able to use Dealer Auction to source stock from outside of the Kia network. This is a valuable by-product from our perspective and something we’re happy to encourage.
Kia is the latest manufacturer to embrace Dealer Auction to promote used stock digitally to franchised retail networks. Eleven manufacturers – including MG Motor UK, Hyundai Motor UK, Renault Group and Nissan Motor GB – have all established a closed network on the platform.
Le Etta Pearce, Dealer Auction’s CEO comments: “Manufacturers increasingly want to assert a greater degree of control on where their vehicles are retailed. Closed networks are not a new concept, but our platform simplifies and improves the process for both buyers and sellers, and the results speak for themselves. Our closed network sales frequently deliver 100% conversion and outperform traditional remarketing channels in terms of performance, plus, for vendors choosing to work in this way, vehicles can be on sale and sold within hours of them becoming available.
“We’re thrilled to welcome Kia UK onto Dealer Auction. Kia is a tremendous brand with a fast-growing customer base. Its EVs are among the most exciting on sale today and attract a substantial following. We’re delighted to be playing a role in helping the team and their franchised partners secure and grow their used vehicle business.”
About Dealer Auction
Dealer Auction is the UK’s smartest and busiest automotive digital wholesale marketplace. We give buyers and sellers more choice, better insight and greater margin. Dealer Auction is an independent company, created through a joint venture between Cox Automotive and Auto Trader. For more information, visit www.dealerauction.co.uk
