FREE2MOVE LEASE AND PSA GROUPE SIGN 30,000 VEHICLE DEAL WITH COX AUTOMOTIVE
- PSA Groupe to double the number of vehicles it remarkets with Manheim
- Vehicles to be sold using a digital-first approach
- Manheim Inspection Services to complete inspection and collection for all Free2Move Lease vehicles
- Free2Move Lease to launch new self-service appraisal tool to improve the end of contract return experience.
Free2Move Lease and the wider PSA Groupe have signed a three-year sole-supplier deal with Cox Automotive to fulfil their end-to-end remarketing needs.
The major new deal will see Cox Automotive deliver a fully connected solution across its Manheim, RMS Automotive and Dealer Auction businesses to collect and remarket 30,000 vehicles.
As part of the contract, PSA Groupe will double the volume it sells with Manheim, offering an additional 15,000 vehicles through the business’ physical and digital remarketing channels.
In addition, Free2Move Lease, which is part of the PSA Groupe, will continue to use Manheim’s Inspection Services business to inspect and collect all vehicles at the end of their contract.
As part of the agreement, Cox Automotive and Free2Move Lease have focused on improving the end-of-lease experience by giving drivers access to a new self-appraisal tool 40 days before the contract is due to end.
The user-friendly platform allows each driver to identify damage on their vehicle, and provides an indicative cost so they can choose whether to arrange a repair prior to collection.
At the end of the lease agreement, Manheim’s team of highly qualified inspectors will collect the vehicle from the consumer, and provide a full vehicle condition report. The vehicles will then be moved to a reconditioning or auction centre to be prepared for the wholesale market.
Mark Pickles, Free2Move Lease, said: “As one of the UK’s leading leasing companies we pride ourselves on aligning our objectives with the needs of our customers.”
“We know how important it is to keep customers informed at the end of their lease, and this self-appraisal tool will give drivers a lot more control over the process and avoid surprises at the end-of-contract inspection.”
“The new tool will also allow us to advertise vehicles to the PSA dealer network based on the driver’s appraisal, helping reduce the number of days to sell.”
PSA Groupe will also take an innovative approach to its remarketing programme by implementing a digital-first strategy.
This connected service will be underpinned by the RMS Automotive platform, Cox Automotive’s international fleet management system, which will store all the vehicle details in a single place, giving PSA Groupe the flexibility to sell through multiple channels.
The process will begin with the Move platform, which gives the PSA dealer network click and buy access to all the end-of-contract vehicles from Free2Move Lease.
Vehicles that are not sold through Move will be offered to the PSA franchised network and then 5,500 active buyers on Dealer Auction, Cox Automotive’s online wholesale marketplace.
Any vehicles that don’t sell online will be sold through a physical auction programme at Manheim’s Leeds, Bruntingthorpe, Colchester, Bristol and Shepshed centres.
Nick Richards, PSA Groupe, said: “Our remarketing strategy is focused on ensuring that we support our dealer network with access to a strong supply of high-quality stock.”
“Throughout the rigorous tender process we were particularly impressed with the way that Cox Automotive understood our specific business needs and looked for innovative ways to help us meet our objectives. I look forward to working with them to deliver a digital-first remarketing programme that will enable us to get our vehicles on sale faster.”
James Leese, Chief Customer Officer for Cox Automotive, concluded: “We are delighted to renew our contract with Free2Move Lease, and significantly expand our remarketing programme with PSA Groupe.”
“This deal is a fantastic example of the connected service that Cox Automotive can offer across the vehicle lifecycle. Our goal is to put customer needs at the heart of everything we do, and it’s been great to work in partnership with PSA Groupe to create some really innovative solutions that will help them to improve customer experience and reduce days to sell.”
Source: Cox Automotive