IVS signs major UK deal
A new deal with City Auction Group is the first major piece of business to be completed by International Vehicle Solutions – Cars Recon’s new UK company.
The arrangement will see valeting, inspections, images, lot operations, and all interior and exterior repairs provided at the CAG’s major auction site in Rockingham, Northamptonshire.
Initially, IVS will process around 250 cars per week, although this number is expected to rise, and the company has taken on around 20 staff at the site to service the deal.
IVS was formed by Cars Recon over the summer as its vehicle to enter the UK market for a wide range of services to be offered in the remarketing sector.
Kay Hudson, managing director of Cars Recon, said, ‘We’re very pleased to close our first UK deal. It is a major step for any new company to write its initial business.’
Kay said that the Rockingham operation would make use of the processes, standards and overall approach that had proven successful for Cars Recon in the US but that IVS was also forming partnerships with local suppliers, more news of which would follow shortly.
Kay said, ‘In the US, some of our shops handle up to 400 units every day, so we are very confident in the effectiveness of our processes. However, we also recognise that there are things that we can learn from the local market and are building them into our UK operation.’
City Auction Group’s clients include PSA Finance, Honda Financial Services, Northridge Finance, Avis Budget Group, FCA Group, Alliance Asset Management and Semalease.
Michael Tomalin, managing director at City Auction Group, said, ‘We have long been aware of the reputation of Cars Recon and, when we found that the company were entering the UK market, we were keen to talk to them. The arrangement at Rockingham is working out well and we look forward to seeing how our partnership develops in the future.’
Launched in Pittsburgh in 2002, Cars Recon now operates in 19 states and has 700 employees working in 32 locations. The portfolio of services to be offered by IVS in the UK is being closely based on Cars Recon in the US, including valeting, mechanical inspections and repairs, smart repairs, condition inspections using NAMA grading, and safety consulting.