Reinventing Vehicle Remarketing

Enabling cross-border trade for LeasePlan

The challenge

LeasePlan is the world’s largest and most innovative vehicle leasing company, managing more than 1.5 million vehicles across 32 countries. LeasePlan vehicle fleet management services range from the purchasing of the vehicles, through to the remarketing of those vehicles at the end of the contract. Up to a thousand cars are remarketed across the LeasePlan portfolio every day and the majority of LeasePlan’s European vehicles are sold via online auction, with the remaining around 20% retailed by the company through its own outlets.

As its existing system was approaching end of life status, LeasePlan had a requirement for a combined and fully integrated global auction platform for vehicle remarketing which combined more user functionality with a modernised look and feel. In addition, it was crucial that the system enabled cross-border trade, allowing the highest price to be achieved regardless of trader location or the physical location or registration of the vehicle.

The solution

Given Perfect Channel’s proven track record of building enterprise-scale auction and trading marketplaces, LeasePlan approached Perfect Channel to build a solution that would be capable of serving thousands of concurrent bidders and hundreds of internal users across 30 countries and be available to trade on a 24/7*365 basis.

Key Features:

  • Multiple trading models supported (English Forward, Sealed Bid and Fixed Price)
  • Multiple concurrent independent auctions, auction progress tracking, international auctions and auction management
  • Extensive bid management; bid placement, bidder information, bid automation and bidder user interface
  • Saved search functionality, allowing easy retrieval of search results
  • View of the total exposure of a user’s bids
  • Third party integration via APIs
  • Automated cross-border sales, multi-language and country-specific workflow
  • Full integration with Inventory Management and CRM systems

The results

Professional traders now bid on a wide variety of LeasePlan cars in 15 languages and across more than 30 countries on a 24/7*365 basis. Crucially, Leaseplan can demonstrate that the highest price has been achieved across its portfolio due to the combination of the auction mechanism and the cross-border trade capability.

We know we get the best price – the highest price wins – and the process is a transparent one. In my view electronic auctions are the way to go. They represent the future.

– Wolfgang E Reinhold, LeasePlan’s senior vice-president, car remarketing and procurement operations.

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