ATLANTA – In response to customer and partner demand for more efficient and effective ways to sell used vehicles, Manheim continues to drive progress to develop a multi-platform system (MPS). Today, Manheim and a number of other industry participants filed a request with the U.S. Department of Justice seeking confirmation that MPS, as envisioned, is in compliance with antitrust laws. The MPS effort, which is open to all participants, is designed to drive innovation, increase competition and deliver more efficiency and benefits to auctions, consignors, dealers and, ultimately, retail customers. Industry participants include WTG Global (Whann Technology Group), an independent digital auction technology company, BSC America Inc., a large regional auto auction company and Columbus Fair Auto Auction, an individual auction.
“This important action adds to the momentum building and due diligence around MPS and keeps the project on track to produce live transactions this year,” said Janet Barnard, President of Manheim North America. “As an industry leader, we take very seriously the need to innovate to address the changing needs of our customers and the long-term interests of our industry.”
“We are proud to be part of the collective effort to establish an MPS that links auctions, consignors, dealers and industry members, and allows bidding across virtual auction marketplaces,” said Keith Whann, founder of Whann Technology Group. “Constructed as a marketplace of marketplaces, it will enable each of our auction customers – at no additional cost – to have a microsite on WTG Global that would also be integrated into MPS. This enables each auction to enhance their customer’s experience and maintain the feel of a local auction, yet have the reach to sell vehicles worldwide.”
Specifically, the detailed request filed with the U.S. Department of Justice by industry participants seeks to obtain a Business Review Letter that sets forth the Justice Department’s enforcement intentions with respect to MPS.
As the request explains, MPS, since its conception, has been planned with anti-trust principles in mind – namely, to foster a robust, competitive and more efficient and transparent digital marketplace − that will bring tangible benefits to customers. The core elements of MPS include:
“Manheim remains committed to having MPS positioned as an industry-wide effort,” added Barnard. “Our leadership believes that concerns expressed around anti-trust risks and high costs are unfounded because MPS has been shaped with these issues in mind from the outset.”
MPS is not a new concept and business arrangements like it have been successfully established in other sectors of the economy. The system essentially acts as a central clearinghouse, along the lines of similar models that exist today within the real estate, airline and financial services industries.
About Manheim (www.manheim.com)
Manheim is the leading global provider of vehicle remarketing services, connecting buyers and sellers of used vehicles to the largest wholesale used-vehicle marketplace. The company helps dealer and commercial customers achieve results by providing physical and digital auction channels, data analysis, financing, transportation and mobile products and solutions.
Manheim pioneered in-lane vehicle auctions and has been an innovator in both digital and mobile auction platforms. Manheim registers nearly 7 million used vehicles annually, facilitating transactions representing nearly $46 billion in value. Manheim’s research and consulting arm, Manheim Consulting, provides industry-leading market intelligence and publishes the widely recognized annual Used Car Market Report. The company offers dealer financing through NextGear Capital, Inc., and transportation services through Ready Auto Transport.
Headquartered in Atlanta, Manheim has more than 20,000 employees in 122 worldwide sites and generates annual revenues of more than $2.5 billion. A subsidiary of Cox Enterprises, Manheim participates in “Go Green with Manheim,” the company’s sustainability program.