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ATLANTA – With inventories tight and prices high, independent dealers are constantly on the hunt for the right units to add to their lots. To help dealers stay ahead of the competition, The Wholesale Institute (TWI), Manheim’s free traveling workshop series, shares ten tips for efficient buying and selling. |
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In addition, TWI’s leader, Mandy Savage, will provide insight into how the top retail operations find inventory online as part of a panel, “The BEST Retail Operation,” held Thursday, June 23 from 2:15 – 4:45 p.m. at the 65th annual NIADA Convention & Expo in Las Vegas. |
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Whether on the go or at the office, independent dealers can gain a competitive edge from these tips: |
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1. Exercise your options. Both in-lane and offsite buying and selling channels are part of one comprehensive digital marketplace. Try combining options: take a car to a physical auction a day early and get a condition report. This will help you better position yourself as an online seller for buyers using remote tools such as Manheim Simulcast. |
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2. Save time. Time is money, so reduce the time you spend “pointing and clicking” each day. Use Manheim online tools like PowerSearch to quickly find the precise inventory you need. You can even save run-lists equipped with pictures, condition reports and vehicle history reports. Be the first to know and act on just-listed inventory with “Notify Me” alerts. |
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3. Get out there. Manheim tools are available online to use anytime, anywhere. You have 24/7 mobile access to the Manheim Market Report, Manheim.com and your saved workbooks, and Manheim’s PowerSearch. New mobile features are added frequently in response to customer feedback. |
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4. Leverage mobile tools in the lanes. When you access Manheim.com from a smartphone, all saved searches and workbook items are available at your fingertips. Save yourself a day of walking cars at the auction and do your homework online before heading to the lanes. Access run-lists, condition reports and your own personal notes from your mobile device on sale day. |
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5. Make an offer. The ability to make an offer is now available for designated vehicles on OVE.com. Sellers: be sure to opt in to take offers. Buyers: don’t hesitate to make an offer – if you find something else, you can retract your offer any time before it’s accepted. |
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6. Download the Manhiem.com app for iPhone. For dealers with an iPhone 3GS or greater, take full advantage of our free iPhone app. It has the same search and save features as the mobile website...but, the icing on the cake is the VIN scanner that pulls Manheim Market Report values on the go. |
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7. Bid, buy, sell and proxy bid on mobile. Don’t feel like you have to be tied to the physical auction lanes or even your desktop to buy or sell cars with Manheim. Bid, buy, sell and proxy bid options are now available from any web-enabled mobile device. |
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8. Leverage social media. Think about implementing a Social Media Strategy at your dealership. Start by reacting to online customer reviews and get comfortable with Facebook. (Friend your customers, take their pictures with their new cars and post them online – now your dealership is part of your customer’s network.) |
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9. Expand your showroom, virtually. Technology is your, and your customer’s, friend. Tools like Manheim’s Retail View allow you to show your retail customers exactly what they want, regardless of what’s on your lot. |
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10. Keep up to speed. Take advantage of free training opportunities, such as TWI workshops, to add the latest industry best practices to your arsenal of buying and selling tools. Also, login to Manheim.com daily to stay informed about the newest features. |
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For more tips and information on upcoming TWI workshops, visit www.thewholesaleinstitute.com. |
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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 122 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, Manheim is a subsidiary of Cox Enterprises, a leading communications, media and automotive services company. |