To help celebrate National Auto Auction Week and NAAA members’ significant contributions to the auto industry, local communities and clients, Manheim hosted three site visits to build awareness about the remarketing industry’s significant impact. Special visits were held during the 2018 National Auto Auction Week at Manheim Pennsylvania, Manheim Fredericksburg and Manheim Georgia.
Manheim leadership hosted 13 reporters and industry partners at Manheim Pennsylvania, where it all began for the company nearly 75 years ago. Grace Huang, president of Cox Automotive Inventory Solutions, reminded guests that while much has changed over the years in our industry, Manheim’s commitment to delivering a better auction experience to clients has remained at the heart of its business.
With that in mind, the visit was an ideal opportunity to showcase how the company continues to innovate its offerings and client experience, inspiring others in the industry to further evolve their operations. Having “put its money where its mouth is,” Manheim highlighted the completion of a $400 million system-wide initiative to improve auction processes and prepare clients for a digital future. Huang also produced a special video shared internally and via social channels thanking team members and clients for their contributions.
In addition, Jonathan Smoke, Cox Automotive’s chief economist, shared the economics of used vehicles, including the decrease in new car sales in 2017, the continued growth in used vehicle sales and the record set in used vehicle values in July.
Also, local reporters were invited to Manheim Georgia to learn about the value that wholesale auto auctions provide to dealers and commercial clients, as well as the company’s efforts to enhance client profitability. They viewed the ‘organized chaos’ during the bidding process and viewed in-lane and physical bidding, as well as digital tools that can reduce time needed to buy and sell used vehicles at auction by as much as four hours a month, freeing dealers to serve retail customers and drive profits.
Matt Trapp, regional vice president for the East for Manheim, who participated in two of the visits shared, “Auto auctions are the backbone of the U.S. economy, and Manheim's role is to help drive dealer profitability and value for the auto manufacturers."
Further, to support Cox Public Policy Office efforts in Washington, D.C., Stephanie Mathias, director of the Cox Political Action Committee, visited Manheim Fredericksburg to get a firsthand view of the used vehicle business. Her visit, coupled with NAAA’s focus on issues facing the remarketing industry, support efforts to help educate legislative leaders.
“The high energy level of a Manheim auction on sale day is incredible,” Mathias said. “Learning about auctions from a firsthand account and being able to speak to that personal experience later enhances our education efforts in the nation’s capital and across the country.”