Hertz is partnering with Dealer Auction, the digital wholesale marketplace, to sell its extensive range of used vehicles to the trade.
The car and van rental business expects to remarket around 6,000 vehicles a year through the platform. Hertz’s established buyers will be given the first opportunity to buy stock via an exclusive closed network, usually within hours of it becoming available. Unsold vehicles will cascade through to Dealer Auction’s audience of over 5,000 trade buyers.
The new marketplace replaces Hertz’s legacy online auction platform. Hertz cites its key motivations for making the switch was Dealer Auction’s ability to serve its priority buyers through an easy to use, equitable and dynamic digital marketplace, the opportunity to reach a wider buyer audience, and the potential to realise operational efficiencies and speed up the time taken to move a car through the remarketing process.
Le Etta Pearce, Dealer Auction’s CEO comments: “We’re thrilled to welcome Hertz onto Dealer Auction and excited about the potential of our new partnership. They were clear about their desire to give buyers a modern, simple and engaging experience, to grow their buyer base, and to improve performance, and we have been able to demonstrate our credentials in each respect. With a diverse range of cars and vans coming to market each week, they need an equally diverse buyer base, but also for those buyers to know when something fitting their profile is available. Again, Dealer Auction has the audience and intelligent stock alert functionality to help meet both objectives. Vehicles are now typically sold and with their new trade buyer within days of being defleeted, a win for all involved.”
End of contract vehicles are prepared and imaged by Hertz’s defleet partner. Uploading vehicles to the platform is actioned in conjunction with Dealer Auctions managed services team. Vehicles are offered on a timed auction or buy it now basis depending on type, condition, and demand factors.
Integrations with Hertz’s appraisals platform aim to improve the accuracy of vehicle descriptions to encourage confident bids and reduce conflict at the point of collection, while integrations with Movex and NextGear Capital help buyers acquire and move stock in just a few clicks.
Le Etta adds: “Hertz’s buyer’s reaction so far has been overwhelmingly positive despite the inevitable disruption a migration brings. They report finding the stock policy functionality, data feeds and integrations built into Dealer Auction valuable and feedback about the ease of use and ability to access our stock ahead of the open market has been positive. Although early days, our CAP and first-time conversion KPIs support this sentiment and I can only see this improving as, together, we refine our processes and introduce more stock to the platform.”
Hertz is the latest fleet and OEM to partner with Dealer Auction. Twelve manufacturers - including MG Motor UK, Hyundai Motor UK, Renault Group, Nissan Motor GB and Kia UK – and fleet operators - including Mobilise and Santander - have established closed networks on the platform to push stock to their priority buyers.