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SAN FRANCISCO– A new generation of customers, changing dealer needs and continued shifts within the automotive industry are transforming the wholesale vehicle business and driving continued online growth, according to Manheim, the world’s leading provider of vehicle remarketing services. To help today’s buyers and sellers keep pace and compete, Manheim is transforming its business as well. For 2011, the company will continue its investment in new programs, products and services, all designed to create one seamless, multi-channel customer experience. |
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A rapidly growing number of buyers and sellers expect access to used vehicle information and inventory 24/7. They also expect data to be clear, and information such as vehicle condition grades to be consistent every time – no matter where or how a vehicle is bought or sold. Almost 23 percent of Manheim vehicles are now sold to online buyers, and traffic to Manheim’s mobile web site has doubled, with an average of 133,000 visitors per month. More than 42 percent of users are using an Apple iPhone® to access the site, and the recently introduced Apple iPad® already is the device of choice for 12 percent of users. |
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Recent investments, such as the Manheim app for iPhone, are also enjoying fast success. Since launching in November 2010, the Manheim app has proven to be a hit among early adopters. The free app allows users to easily scan the VIN of a vehicle and retrieve Manheim Market Report (MMR) values in seconds. Almost 11,000 users have downloaded the Manheim app since its debut. |
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“In 2011, Manheim will continue to invest in strategies and tactics that deliver the same experience to customers using a Smartphone or tablet as they do with their computer,” said Sue Boehlke, senior vice president, products and processes, Manheim. “Based on the strong results to-date, the iPhone app is just the first step in an expanding mobile strategy. However, for the remarketing industry to fully realize the efficiency of online and mobile technology, remarketers will need to build confidence between the buyer and seller.” |
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To ensure that customers have that confidence, Manheim worked closely with The National Auto Auction Association (NAAA) to develop new standards to guide inspections, condition reports, arbitration and certification. With these guidelines now in place and supported by auction members, dealers can focus on the vehicles they need, not the channel through which they are being sold. |
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Manheim will continue to make it as easy as possible for dealers to find the exact vehicles they need, with enhancements such as: |
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A new Manheim.com PowerSearch homepage design that helps narrow and edit their search results from the more than 100,000 available vehicles; |
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Easier access to “Saved Searches,” which allows customers to save search criteria on the inventory they most often seek and receive notification whenever new inventory is added that meets their needs. |
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As customers seek to cut remarketing costs by reducing cycle times, Manheim is pioneering new end-to-end solutions that offer customers faster inventory turns via remote location remarketing and dealers the freshest possible choices of used vehicles. |
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For example, this past year Manheim teamed up with Nissan Motor Acceptance Corp. and Infiniti Financial Services to launch an end-to-end grounding and remarketing solution that significantly reduces the time an off-lease vehicle idles on the ground, resulting in faster “cash for cars.” Manheim also partnered with BMW Financial Services to distribute and remarket all company BMW and MINI vehicles, giving customers from every corner of the country unprecedented access to highly desirable executive vehicles. |
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“These new programs are just the start of how we are moving Manheim’s services further upstream to meet the needs of the changing marketplace,” said Nick Peluso, senior vice president, customer management, Manheim. “We have the technology and the expertise to provide these customized solutions, and it’s our goal to apply them to save customers time, cost and hassle.” |
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As the marketplace continue to evolve, Manheim also remains committed to helping educate customers about how they can leverage the latest tools and trends. The Wholesale Institute (TWI) – Manheim’s free traveling workshop series – recently launched a wealth of new website content, along with TWI 2.0, quarterly web-based training sessions for more technologically advanced dealers. These new online resources are located at www.thewholesaleinstitute.com. |
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Whether it’s the time-tested traditions of the auction lanes, the 24/7 environment of the Web or today’s anytime and anywhere mobile apps, Manheim will continue to deliver seamless and efficient customer experiences across every available remarketing channel. |
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About Manheim (www.manheim.com) |
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Manheim is the world’s leading provider of vehicle remarketing services. Through its 130 worldwide wholesale operating locations, Manheim impacts every stage of a used vehicle’s life cycle, helping commercial sellers and automobile dealers maximize the full value of their vehicles. Drawing from its auction transaction volume, Manheim Consulting publishes the annual Used Car Market Report, the definitive source of data for the used car industry. Manheim Consulting offers a wide range of services including custom analytics, business optimization and macro economic analysis. |
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Manheim is the online vehicle remarketing leader, connecting buyers and sellers to the world’s largest, most comprehensive wholesale marketplace through its extensive in-lane and online offerings. Manheim.com receives nearly 900,000 visits each week. |
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Additionally, Manheim offers services including reconditioning, certification, inspections, dealer financing, title management and marshaling, among others. Through its wide array of services and technologies, industry publications, customer support and educational offerings, Manheim gives its |
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customers maximum control over how they buy and sell vehicles, helping them to conduct business in the most efficient way possible. In 2010, Manheim handled nearly 10 million used vehicles, facilitating transactions worth more than $50 billion in value. |
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Headquartered in Atlanta, Georgia, Manheim is a subsidiary of Cox Enterprises, a leading communications, media and automotive services company. |