Auto Remarketing has launched a new series this year called “Consignor Connection,” in which we catch up with a leading remarketing executive at a different consignor each month.

In a Q&A format, we talk about best practices, auction industry trends and more. The latest in this series features Levi McCoy,  who is the director of remarketing at LeasePlan USA:

Auto Remarketing: How does LeasePlan strike a balance when it comes to choosing how your cars are sold, be it auction sales, online sales, open/closed sales, etc.?

Levi McCoy: LeasePlan is open-minded and progressive in our remarketing strategy. By that I mean, if opportunities present themselves in ways we haven’t viewed before we will take a close look.

We remain loyal to our core buyers who buy in the "live" auction lanes. Many, many buyers continue to like to touch and feel vehicles they intend to purchase.

With that being the case, we all know online sales are expanding rapidly. LeasePlan wants a presence there, as well. As more buyers utilize and become more comfortable with online sales, we want to be there for them, too! We continue to experience year-over-year growth in the percentage of our vehicles sold online.

AR: Looking at multiplatform buying and selling in the wholesale space, what are some of the benefits you see as a consignor, and what are the challenges?

LM: The immediate and most recognizable benefit to a multiplatform solution is more potential buyers bidding on your inventory from not just North America, but other international locations. Multiplatform is an ongoing natural growth opportunity with the accuracy and speed of evolving Web-based technologies.

Multiplatform is forward thinking with “built-in” efficiencies — i.e., more eyes on vehicles and cost savings. I would like to see it move more and more into the mainstream. As far as challenges with multiplatform, those have lessened over the years. The technology is in place to support it. Challenges may boil down to confidence and the elusive time it takes to "fully" implement.
 

AR: What have been some of the biggest challenges (and opportunities) in the fleet/lease segment of the auction market for consignors in 2015?

LM: It’s still early, but the normal opportunities that come with first quarter volumes come to mind. Our clients mostly control when they decide to de-fleet, so business needs of our clients play a major role in this opportunity.

LeasePlan is here to serve our many client needs, and their needs do vary. Accurate floor pricing is an opportunity we consistently try to manage, and the availability of timely sales data has dramatically improved vehicle valuation tools to support pricing. We try to look at challenges as opportunities, so there aren’t many challenges that aren’t viewed as opportunities.
 

AR: What are some ways that OEMs, consignors, dealers and auctions can work together to keep residuals strong?

LM: I think the big picture is everyone looking out for the best interest of the overall industry. In the highly competitive industry we all enjoy, that can be challenging or an opportunity.

Also having good product to offer and support of those products. Maintaining and ultimately enhancing the trust in the industry is paramount to all. Everyone likes doing business with those they like and trust.