Motor auction drives ahead with rapid growth

A MOTOR auction business is celebrating its tenth successful year by announcing major growth which it puts down to altered buying habits due to the recession.

The Lane family bought into Morley-based Independent Motor Auctions in 2003 and since then the business has seen turnover leap from £1m in its first year to £18m last year.

Recently, the business has added two acres to its site on Bruntcliffe Lane, taking it to five acres and launched an online auction site and mobile app to help boost growth.

The third generation of the Lane family has now joined the team. John Lane and his son, Justin, originally bought 50% of Independent Motor Auctions, later taking full control of the business. Now, Justin’s son, Chris, has been recruited as a trainee auctioneer.

As part of Independent Motor Auctions’ ongoing investment plans, the business has bought a new transporter taking its stock to six to make collection and delivery for customers more efficient.

The directors attribute much of the business’s growth to a change in buying patterns, spurred on by the recession, which has seen people seek out better value for money.

The company now employs 32 staff, having launched with seven, and plans to increase this further in the coming year.

Justin Lane, managing director, said: “The motor auction industry is a dying trade amongst young people and, generally, there’s not enough investment in it. It’s a great career as our family has demonstrated, I’m really proud that now my son has joined the business. As a company, Independent Motor Auctions is growing faster than the industry itself and we’re really pleased with our progress.

“The recession saw a massive shift in buying patterns and boosted our industry. It was our strongest growth period and is helping us to create more jobs and opportunities as we continue to expand.”