Record week for auction website
PETERBOROUGH-based Auction4Cars has smashed its record for the highest number of cars sold in a week since it was launched 18 months ago.
The fee-free car auction website sold more than 450 vehicles in the first week of May, breaking its previous record of 397 set last November in spite of a widespread slowdown in vehicles sales across the main auction houses.
Auction4Cars, a subsidiary of car supermarket giant Motorpoint, was launched in October 2008 to sell the company’s part-exchange vehicles exclusively to the trade from its base on the Boongate Industrial Estate in the city. In its first full year, it sold 10,000 vehicles. It is currently on course to sell some 15,000 vehicles in 2010.
Neil Prescott, group disposal manager at Motorpoint, said: “Whilst we have seen the market in general cooling because of an oversupply of vehicles, Auction4Cars continues to prove extremely popular, emphasising that our fee-free online car auction model is now firmly established among the trade.”