Manheim Auctions is looking to double its dealer business over the next three years on the back of new product launches.

John Bailey, Manheim Europe chief executive, said: "Franchised dealer business accounts for around 20% of our business, but this should be nearer 40%.

"We will increase business through offering solutions for dealers to profitably remarket cars, even if they are 10-year-old part-exchanges.

"Growth will come from taking business from our competitors, but we are not going out to target our rivals, only dealers. The market is also still growing slightly."

Alan Cureton, Manheim sales director, said the pace of change in auction business had been "astounding" over the past five years.

"Our franchised dealer volumes have risen 40% year-on-year and represents a significant source of business for Manheim," he said.

Manheim's intentions are underlined by the focus it is putting on the Mansfield outlet, its lone dealer-only auction site.

"We had to work hard to attract dealer business to Mansfield, but this is now booming," said Mr Cureton. "We have also found dealers from further afield are coming to the centre because they know they will get a good deal. Dealer auctions is a key area of growth for us."