Thursday April 19 2018

G3 Remarketing on track to top £80m in vehicle sales

After months of technological investments and senior appointments, G3 has seen a 14% uplift in hammer value figures for the first quarter of 2018, and is on track to top £80 million in sales.

G3 Remarketing on track to top £80m in vehicle sales

The start of 2018 has seen an increase of 46% in digital bids when compared with the last quarter of 2017, and the number of vehicles purchased online has also seen an upturn of 14% during this period.

The stats follow the successful launch of a mobile inspection and asset management application – AVID – which has been developed in-house by G3’s technical team, and allows the firm to capture a more accurate assessment of a car’s true condition.

Alongside this, G3 has begun using enhanced HD imagery and introduced 360 degree videos to further demonstrate product quality. These technological developments have contributed to an increase in overall total bids on vehicles by 27%.

Commenting on the new technology, sales and marketing director Roger Evans said: “This positive start to 2018 has really highlighted the dynamic grading and pricing capabilities of the app, whilst showing our clients the best possible view of every vehicle. 

“We have also recently launched a 30-point assured check – G3 Assured – which provides dealers with a mechanical inspection report, pinpointing the condition of the tyres, brakes and engine when running. So, these latest stats indicate that our innovations have improved dealers' confidence in the condition of the vehicles we sell, which is great to see!”

Despite recent figures from the Society of Motor and Manufacturers and Traders (SMMT) revealing a 5.1% fall in the market for the fourth quarter of last year – and an overall decrease of 1.1% in used car purchases for 2017 – G3’s sales have remained strong.

And projections for the remainder of the year are equally positive for the firm. Despite the lull that often accompanies the post-Easter period, G3’s Tuesday sales in April saw online bids doubling and attendance numbers reaching their highest ever levels – setting a new record for hammer value figures.

“We’ve had a fantastic start to 2018 and the team is excited to see what is ahead for the remainder of the year,” added Roger.

G3 Remarketing holds up to 14 online and in-hall auction sales each month, with Motability Operations being one of the most recent vendors to have come on board.

"Weve had a fantastic start to 2018 and the team is excited to see what is ahead for the remainder of the year."
Roger Evans

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