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CMA clears Auto Trader's JV with Cox Automotive

By Michele Maatouk

Date: Wednesday 21 Nov 2018

CMA clears Auto Trader's JV with Cox Automotive

(Sharecast News) - The Competition and Markets Authority has cleared Auto Trader's joint venture with Cox Automotive to provide a digital marketplace for wholesale vehicles in the UK.
The JV, which was announced back in August, is expected to complete by the end of the year.

"The joint venture will provide the UK automotive market with a comprehensive online auction service," Auto Trader said in a statement.

The business, which will be called Dealer Auction, will provide fleet companies, manufacturers and retailers with a more efficient and convenient way to dispose of their stock of vehicles. Retailers will gain access to a more comprehensive stock of vehicles available for them to buy and this will be supported with the data and tools to allow them to select the right vehicles for their specific needs.

"The business will offer a full service, along with its business partners, who have significant experience in digital, wholesale and retail solutions," the company said.

As part of the JV, Cox Automotive will transfer both Dealer-Auction.com, which is an online auction of trade-in vehicles from UK franchise dealers, and Manheim Online, the online remarketing services division of Cox Automotive, to the joint venture and Auto Trader will transfer Smart Buying (formally known as Autotrade-mail), it's retailer-to-retailer platform. Once combined, the three businesses will enable prospective buyers to visit one platform and view a large selection of wholesale vehicles across the marketplace.



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