ATLANTA – For years, vAuto’s Provision has provided dealers actionable insights on valuing consumer trade-ins, and thanks to a new integration with Manheim Express, they can now act even faster to list vehicles in the wholesale marketplace. As the first integration between two Cox Automotive mobile apps, this seamless connection brings dealers major efficiencies—making it easier and more cost effective than ever to wholesale vehicles. Of the approximately 450,000 trade-ins dealers evaluate each month with Provision, 50,000 end up in Manheim’s wholesale marketplace.
The integration combines two mobile technologies, vAuto’s Provision app and Manheim Express, to help dealers list inventory for wholesale in minutes without having to transport a vehicle to auction—saving time and money.
“The integration of vAuto’s Provision app and Manheim Express enables dealers to sell cars in the wholesale environment with greater confidence and speed,” said Randy Kobat, senior vice president of vAuto, HomeNet, and Dealertrack DMS for Cox Automotive. “The integration helps dealers know how much they can get for a vehicle at wholesale, and begin the wholesale process, whether it’s during a trade-in appraisal or after a vehicle hasn’t sold at retail, with a single tap on a mobile device.”
When vAuto dealers opt to wholesale a vehicle, the Manheim Express integration gives dealers an instant, real-money offer—called a Guaranteed First Bid—on that vehicle. With this feature, dealers can reduce their risk and quickly and confidently make good decisions during their appraisal and wholesale processes.
Guaranteed First Bid, driven by rich valuation data from the Manheim Marketplace Report (MMR), sets a minimum floor price for a dealer’s vehicle. If the vehicle does not sell for the floor price, or higher, within two sale-days of being listed, Manheim will purchase the vehicle at the Guaranteed First Bid price . Dealers can now rest assured that they can quickly move unwanted vehicles off their balance sheets.
“Combining Manheim Express’ Guaranteed First Bid with vAuto’s Provision appraisal processes provides dealers greater confidence in the values they are placing on trade-in vehicles,” said Derek Hansen, vice president of Offsite Solutions at Manheim. “And with the ability to instantly list a vehicle, this partnership shows the seamless experience Cox Automotive is creating for dealers in the new digital wholesale marketplace.”
For more information about the Manheim Express integration with vAuto, visit ManheimExpress.com.
About Manheim (www.manheim.com)
Manheim® is North America's leading provider of end-to-end wholesale solutions that help dealer and commercial clients increase profits in their used vehicle operations. Through its physical, mobile and digital sales network, Manheim offers services for inventory management, buying and selling, floor planning, logistics, assurance and reconditioning. With its omni-channel approach, Manheim Marketplace enables wholesale vehicle clients more efficient ways to connect and transact business how and when they want. Approximately 18,000 team members help Manheim offer 8 million used vehicles annually, facilitating transactions representing nearly $58 billion in value. Headquartered in Atlanta, Manheim North America is a Cox Automotive™ brand. For more information, visit http://press.manheim.com.
About vAuto
vAuto® provides innovative technology, tools and business intelligence to thousands of dealerships across the United States and Canada, helping them compete more effectively and increase new/used vehicle sales volumes and profits. Founded in 2005, vAuto revolutionized dealers’ used vehicle operations with the groundbreaking Provision® suite of tools. Leveraging The Velocity Method of Management®, pioneered by vAuto founder, Dale Pollak, Provision helped dealers adopt a more transparent- and turn-focused approach to used vehicle acquisition, appraising, pricing and merchandising based on real-time, local market supply-and-demand data. In 2018, vAuto released the Provision ProfitTime metric and methodology to help dealers maximize inventory turn and gross profit based on the investment value or profit potential of each vehicle. The same year, the company expanded its integrations with Cox Automotive’s HomeNet and acquired iRecon, an online reconditioning workflow platform. The moves extend vAuto’s efficiency-focused used vehicle management solutions into vehicle merchandising and reconditioning.
vAuto’s solutions also include Conquest, a new vehicle inventory management and pricing system, and Stockwave, which enables dealers to efficiently find and purchase vehicles from leading wholesale sources via a single platform. Headquartered near Chicago, Illinois, vAuto is a Cox Automotive™ brand.
