Vehicle auction firm British Car Auctions (BCA) and partner Ambrosetti UK have won the contract to remarket the fleet of Toyota in the UK following a competitive tender process.

From 1 January 2013, BCA will inspect, collect, store and refurbish all fleet cars from the management, manufacturing, logistics and finance teams at Toyota and Lexus in the UK.

BCA will also manage the inventory, sales and outsourced remarketing services. Using BCA’s inventory management system, Toyota will be able to view and control the inventory throughout the supply chain.

Using a range of remarketing channels and marketing, BCA will sell used Toyota and Lexus vehicles directly to franchise dealers and non-franchise buyers, including physical and online auctions.

BCA has also developed an online sales platform to allow Toyota and Lexus retailers to purchase vehicles in a closed environment.

The news follows the financial year half-year results from Toyota which reported the brand was again the biggest-seller of vehicles in the world with its financial operation was contributing a quarter of its global profits.

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By GlobalData

richard.brown@vrlfinancialnews.com