NextGear Capital announces new Managing Director

Cox Automotive welcomes Liam Quegan as Managing Director of NextGear Capital

NextGear Capital, the stock funding arm of Cox Automotive, has appointed Liam Quegan to the role of Managing Director.

Liam has held a range of senior positions in the automotive and financial services industries, and will use his wealth of experience to drive the growth strategy for the NextGear Capital business.

NextGear Capital, which launched in 2014, is the industry's leading provider of Stocking Plans, providing lines of credit for dealers to purchase inventory.

Its client base of over 1,300 independent and franchise dealers across the UK and ROI, have 24/7 online access to their account, which aggregates stock and simplifies the buying process by providing the ability to view and fund vehicles won at auction all in one place.

In November, the company achieved the milestone of 200,000 vehicles funded since it launched, with the total value of vehicles exceeding £1.4 billion.

Quegan said: "I am very excited to join Cox Automotive to lead a business that has achieved such outstanding growth over the past three years. I'm really looking forward to working with the team at NextGear Capital to provide great products and services that help dealers maintain stock levels while freeing up capital to invest in their business."

Michael Buxton, CEO of Cox Automotive UK said: "I am delighted to welcome Liam to Cox Automotive, and look forward to working with him as he drives the continued success of the NextGear Capital business."

Buxton continued: "Liam also joins the Cox Automotive board, and I am sure his experience and industry knowledge will prove an extremely valuable addition to the team as we deliver our exciting plans for 2018."