VRA and CARA formalise collaboration for better remarketing practices

The UK’s Vehicle Remarketing Association (VRA) and the Car Remarketing Association of Europe (CARA) have formalised their commitment to enhanced collaboration through the signing of a memorandum of understanding. This significant agreement, approved by the boards of both organisations, aims to promote co-operation that will benefit their respective members and the broader remarketing sector.

The memorandum acknowledges the mutual advantages of collaboration, granting each organisation corporate membership of the other. It is designed to facilitate joint efforts in sharing best practices, expertise, and campaigning on key issues affecting the remarketing industry both nationally and internationally. Furthermore, the partnership may lead to joint events aimed at leveraging the strengths of each association to enhance member services.

Philip Nothard, chair of the VRA, emphasised the importance of this agreement, stating, “We’ve been talking to CARA on an informal basis for some time and it is clear that we have much in common as industry bodies and much to gain from working together in a manner that adds value for members.” He went on to describe the memorandum as an agreement that provides a framework for exploring future areas of collaboration, highlighting its potential impact on the sector.

Luis Maria Perez-Serrano, chair at CARA, echoed Nothard’s sentiments, noting, “CARA and the VRA fulfil very similar roles in the UK and Europe, providing a valuable forum for the remarketing sector in their respective territories.” Perez-Serrano expressed enthusiasm for the agreement, viewing it as an opportunity to establish closer ties and work together more effectively.

CARA is an international non-profit organisation that was established in 2015, focusing on the European used car market. Its membership spans various sectors including car manufacturing, fleet management, leasing, car auctions, car service provision, and car data management. Similarly, the VRA, founded in 2010, represents companies involved in various aspects of the used car remarketing process. Collectively, VRA members manage, inspect, transport, or sell over 1.5 million used vehicles in the UK annually.

This agreement between CARA and VRA marks a significant step towards a unified approach in addressing common challenges faced by the remarketing sector. By fostering collaboration and sharing resources, both associations aim to strengthen their influence and increase their capacity to advocate effectively on behalf of their members.

As the remarketing industry continues to evolve, these collaborations are becoming increasingly vital. With shifting market dynamics and the ongoing emergence of innovative practices, such partnerships may help improve overall operational efficiency while addressing the specific needs of their constituents.

The implications of this memorandum extend beyond the immediate objectives of the VRA and CARA. By working together, they aim to create a more cohesive remarketing environment across the UK and Europe, potentially making it easier for stakeholders to navigate challenges and seize new opportunities.

The joint effort, emphasised by the launch of this memorandum, underscores a growing trend among industry associations to combine forces and leverage shared strengths for mutual benefit. The collaboration signals a forward-thinking approach in the remarketing sector as it prepares to tackle the complex issues arising from a rapidly changing automotive landscape.