Lex Autolease, part of the upcoming Lloyds Auto brand, has awarded a three-year remarketing and inspections contract to Cox Automotive.

The partnership will give Lex Autolease greater control and visibility across its remarketing programme, helping to optimise performance and achieve strong outcomes from the first point of sale.

The agreement draws on multiple areas of the Cox Automotive ecosystem, including vehicle inspection, collection and remarketing services, to evolve Lex Autolease’s remarketing strategy.

Under the new contract, Manheim will remarket a proportion of Lex Autolease’s LCVs through its national network of physical auction sites, including Shepshed, Haydock, Gloucester and Colchester, in recognition of the critical role that in-person inspections play for LCV buyers. This will be backed by premium inspection and collection support.

Paul Hyne, commercial director at Lloyds Banking Group, said: “Partnering with Cox Automotive marks an exciting step forward for our remarketing strategy. Physical auctions continue to play a vital role, particularly for buyers sourcing LCVs, and Manheim’s established national network gives our customers the opportunity to inspect vehicles in person.

“We were also impressed by Cox Automotive’s focus on customer experience and operational quality, and we’re confident they will deliver consistently strong results for our buyers and for the Lex Autolease business.”

Sam Panayides, sales director at Cox Automotive Europe, said: “As the UK’s leading LCV remarketing provider, we’re proud to support Lex Autolease with a comprehensive solution. Our unwavering commitment to physical auctions, backed by a strong national footprint and specialist LCV expertise, allows us to connect sellers with highly engaged buyers and deliver confident, transparent transactions. We look forward to working closely with the Lex team to maximise performance and deliver an exceptional experience throughout the life of the contract.”