2016 Wholesale Digital Trends Report Reveals Record-High Vehicles Sold on OVE and Total Transactions thru Digital Channels
Manheim’s online wholesale marketplace, OVE reached a record 378,000 vehicles sold in 2016, bringing the total number of vehicle sold on the channel to 2.5 million since it was launched in 2006, according to the 2016 Wholesale Digital Trends Report.
It was a good year for Manheim’s digital channels with the average year-over-year growth in each of the company’s Digital Marketplace categories at 15 percent or more. Other highlights include a record number of average monthly digital users, total bids, online and mobile site visits as well as total digital transactions.
“Response to the suite of digital tools we’ve created was overwhelmingly positive in 2016, which strengthens our resolve to keep delivering solutions that help dealers move their inventory effectively and efficiently,” said Derek Hansen, vice president of digital solutions, Manheim. “Seeing a 22 percent year-over-year increase in total transactions through our digital channels underscores the good work our team is doing to make the wholesale buying and selling process easier for dealers.”
Record Sales on OVE: There were a record 378,000 vehicles sold via OVE this year, bringing the total number of sales to 2.5 million since the online wholesale marketplace launched in 2011.
Simulcast is Selling: Auction attendance via Simulcast averaged 139,000 users monthly in 2016, with 50 percent of auction sale attendance participating via the online auction platform. This shows significant increase in active dealers who are eager to experience live sales and buy or sell remotely in real time.
Total Visits & Bids Are Up: Online and mobile engagement continues its upward trend with an increase in total visits and bids in Manheim’s Digital Channels. There were more than 12 million total bids conducted through all of the company’s digital channels for an 18 percent year-over-year increase compared to 2015. More than 75+ million total visitors visited the Manheim mobile site and apps, representing a 15 percent year-over-year increase.