Cox Automotive has announced the promotion of Kieran TeeBoon to the post of managing director at Dealer Auction.

TeeBoon, who has been with Cox Automotive for five years, will move to the role from his current role as operations director.

Prior to Dealer Auction, TeeBoon worked with dealerships including Francis Seat and Listers.

TeeBoon's appointment is part of a wider succession plan to structure the leadership team at Dealer Auction for continued success, which also sees Gary Nixon move to National sales director following his four-year tenure as business development manager.

The company has also appointed Scott Allen as general manager.

TeeBoon said: “Becoming managing director at Dealer Auction is a fantastic accolade and I'm honoured to extend my role within the business.

"Part of the success of Dealer Auction is its ability to integrate with our wider Cox Automotive services, enabling dealerships to fully manage all areas of the dealer spectrum.

“From the moment they purchase vehicles through Dealer Auction, dealers can organise logistics with Movex, fund purchases with NextGear Capital and advertise new vehicles through Motors.co.uk.

“As a group we are making dealer management easier, increasing efficiency for trade buyers and franchised main dealers and I look forward to continuing this success."

TeeBoon adopts the new position at a time of growth for the Dealer Auction business.

The platform, which allows dealers to place bids 24-hours-a-day on auctions which take place every sixty seconds, seven days a week, exceeded forecasts for 2017, with a 7% year-on-year uplift in volume sold, and an impressive 12% increase in average sales value.

It auctions over 8,000 part-exchange and trade cars every month to more than 4,500 active buyers.

TeeBoon will be responsible for overseeing the growth strategy of Dealer Auction as the uptake of online auction capabilities continues to thrive.

Martin Forbes, Cox Automotive’s chief operating officer, said: "Dealer Auction is an important part of the Cox Automotive family.

“As the automotive industry moves ever towards digital, we are providing dealerships with industry-leading opportunities to simplify their stock management and, as a result, we've seen phenomenal growth over the past five years.

“The next 12 months will be an exciting time for the business. I look forward to welcoming Kieran into his new position to drive this growth forward.”