Lexus signs new three-year contract with Portfolio

Lexus GB has signed a new three-year contract with Portfolio, the UK’s leading provider of dealer showroom and online retail marketing services and part of the Manheim Retail Services, continuing a successful three year relationship.

Portfolio currently provides the Lexus Centre network with a range of online and showroom-based marketing solutions to support its Approved Pre-Owned programme. This includes a nationwide professional vehicle photography service resulting in all Pre-Owned Centre stock being displayed on the Lexus Approved Pre-Owned car locator of the lexus.co.uk website, also developed by Portfolio. In addition, Lexus Centres benefit from a Fleet Direct service which Centre staff access from their PCs using Portfolio’s eBusiness Centre Showroom System - allowing Centres to view, enquire and acquire Lexus GB stock online (sourced from vrs, also a part of the Manheim Group).

The Lexus partnership with Portfolio has led to the development of a number of industry firsts including two online services called “Negotiate” and “Sell Your Lexus”. Negotiate is an enhancement of the car locator technology, enabling customers to submit bids against selected cars, generating additional and specific customer leads for respective Lexus Centres . “Sell Your Lexus” facility provides customers with the ability to sell their Lexus through the support of their local Lexus Centre, in turn creating opportunities for Centres to engage new customers in trading in their vehicle.

Andy Simpson, Lexus GBs National Corporate & Remarketing Manager comments: “We have enjoyed a great working relationship with Portfolio and are delighted at how our investment in Portfolio’s photography services and web-based technologies support the Lexus brand and have generated a positive return on investment even in the current economic climate. Our “Negotiate” feature on the Approved Pre-Owned Lexus car locator accounts for a significant proportion of all Pre-Owned enquiries coming into the network and since its initial launch almost 11 months ago, we have received over £26.5 million customer bids through the service with the overall number of bids achieving 72% achieve the Centre Reserve Price”.

John Simpson, Managing Director of Portfolio added: “We are delighted to have signed the contract for a further three years. I would like to think that the growth of our working relationship and the experience that we have gained over the last 3 years will stand us in good stead as we continue to develop cutting edge, industry-leading retail marketing solutions to support the Lexus Centre network”.