Used car market slowdown provides vehicle disposal opportunities says rental firm
The economic slowdown and subsequent turmoil in the used car market provides opportunities for innovative remarketing, according to Ian Trapp, 1car1 Car and Van Rental’s newly appointed head of vehicle remarketing.
With a 28-year motoring industry career behind him, of which the last 17 years have been spent in senior vehicle remarketing posts, Mr Trapp (43) is the first person to hold the specialist role at the fast-expanding Leeds-based company.
With residual values falling and used car sales under pressure, Mr Trapp said: “Efficient vehicle remarketing processes coupled with multi-sales channels are essential to support a rental company’s profitability.
“The current marketplace coupled with the 1car1 Car and Van Rental fleet profile provides the company with a fantastic opportunity to be innovative and more effective and by being flexible in our remarketing approach we will ultimately sell more vehicles.”
In the last five years 1car1 Car and Van Rental has more than tripled its fleet size and branch network to 18,000 vehicles and 95 locations across the UK as well as offices in Australia and the United States.
It is that expansion that has heralded the appointment of Mr Trapp and will see a wide range of disposal routes to market exploited including electronic remarketing, auction, joint venture consumer sales, and direct to dealers.
“The business has gone through significant growth in recent years. That has resulted in a major expansion of its vehicle portfolio to a level where there needs to be an increased focus on vehicle remarketing,” said Mr Trapp in response to his appointment.
He began his vehicle remarketing career as the manager of the UK’s largest car supermarket in the 1990s – Lex Auto Sales in Birmingham. Following a six-year spell as head of vehicle remarketing for Lombard Vehicle Management and Royal Bank of Scotland, he joined the Sytner Group, one of the UK’s leading motor retailers, as head of vehicle remarketing, which included building and developing the company’s successful electronic remarketing used vehicle website. Prior to joining 1car1 Car and Van Rental, Mr Trapp ran his own used vehicle remarketing consultancy.
Simon Large, director of Britain’s largest independently-owned vehicle rental company, which also operates in the leasing and accident management sectors, said: “We are delighted to have recruited a person’s with Ian’s industry knowledge and experience to oversee our vehicle remarketing, and further develop our used vehicle operations.”
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