UK's First Online Price-Drop Car Auction Offers New Route for Rapid and Profitable Disposal

MORLEY, UNITED KINGDOM – March 17, 2010: Car dealers now have a new, rapid and cost-effective way of selling their stock direct to consumers and trade, saving the hassle and expense associated with traditional routes to market, thanks to UK Car Exchange www.ukcarexchange.com.

The new website, launched this month, is an online price-drop car auction portal that brings buyers and sellers together in one place. Cars are uploaded free of charge and offered for immediate sale, typically over a 14-day auction period. This ensures dealers enjoy a fast cash return, without having to pay hefty commissions. Prices drop automatically on a daily basis by an amount pre-determined by the dealer. The progressive price drop entices potential buyers, who are encouraged to buy promptly to avoid the prospect of being beaten to a purchase by a rival bidder.

UK Car Exchange gives dealers another route to disposal, with the potential to achieve higher returns on surplus stock, part exchanges and over-age vehicles. Until a car is purchased, the dealer’s details are withheld, allowing the advertising of the same car at a different price through other channels.

Sellers have the option to show their stock only to registered trade buyers, or to both traders and consumers. They can list an unlimited number of cars on the site, for free – a fee is only payable when a car sells. Dealers also have the ability to set a reserve price. If a car is sold elsewhere or from the dealer’s forecourt, it is simply removed from the website, without a cancellation fee being incurred.

Trade customers can also purchase from the website to boost stock and to fulfil specific customer requests, safe in the knowledge that the cars have been sourced from reputable vendors.

UK Car Exchange’s management team, led by managing director Tony Hinkley, has over 75 years’ experience in the motor trade.

“We are really excited to bring this innovative new concept to the UK motor trade,” says Hinkley. “Car dealers can now access a new national market, at no cost until a car is successfully sold, in addition to continuing to market their stock through traditional methods. This is particularly good news for those without forecourts and those that struggle to sell on cars which are approaching over-age.

“We’ve already signed up a wide range of customers, from major dealer groups to single-site independent traders, and we’re looking forward to even more dealers joining us and taking advantage of the service,” he concludes.

Available seven days a week, UK Car Exchange’s UK-based operations centre is ready to discuss conditions of sale with dealers, including how to register as an approved seller, so they can get selling straight away, saving them time and money. More details on how to get started are available at www.ukcarexchange.com or by calling 0845 519 1499