“We continue to see greater adoption of multiple digital channels for buying and selling wholesale vehicles,” said Derek Hansen, vice president of digital solutions, Manheim. “The new tools and features we have implemented this year, such as OVE text notifications, OVE Daily Sales and Seller Dashboard, have made it more convenient to manage inventory anytime, from anywhere.”
ATLANTA – Manheim released its second quarter Digital Trends today, showing a 22 percent increase in vehicles sold through its Digital Channels in Q2 compared to prior year. Manheim’s digital offerings allow buyers and sellers to improve efficiency in their business and to increase access to inventory, ultimately saving time and money.
“We continue to see greater adoption of multiple digital channels for buying and selling wholesale vehicles,” said Derek Hansen, vice president of digital solutions, Manheim. “The new tools and features we have implemented this year, such as OVE text notifications, OVE Daily Sales and Seller Dashboard, have made it more convenient to manage inventory anytime, from anywhere.”
OVE, Manheim's 24/7 online wholesale marketplace, has experienced significant growth with nearly 100,000 vehicles sold in Q2 alone, representing an 18 percent increase over prior year. OVE gives both sellers and buyers flexibility with options for bid, buy now, or make an offer on vehicles.
With the launch of new features such as Daily Sales and Text Notifications, OVE has experienced double-digit growth over prior year. New programs such as Outside-the-Gate Inspections have also contributed to an increase in OVE vehicles listed with a condition report, helping to drive greater confidence in online buying.
Manheim's mobile sites and apps have seen double-digit growth in traffic, as dealers take advantage of features like VIN scan and Second Chance Sales to research, buy and sell vehicles on-the-go. More than 3.5 million VIN scans were completed using Manheim's iPhone and Android apps in Q2, allowing clients to quickly access vehicle information and MMR values from their mobile device. Earlier this year, Simulcast on Mobile was also enhanced to include an audio streaming capability that brings the full auction experience to a user's smartphone. By the end of last quarter, dealers had enabled audio more than 100,000 times.
With Simulcast, more dealers are now participating in auction sale events remotely. In fact, almost 50 percent of auction sale attendance now comes from Simulcast each month. In the second quarter alone, 2.8 million bids were placed via Simulcast, and 273,000 vehicles were sold to a Simulcast buyer, representing a 21 percent increase over prior year.
