ATLANTA – Manheim’s Adjusted MMR, the wholesale vehicle valuation relied on by buyers and sellers across the industry, has become even more widely available thanks to a new integration with the AutoIMS inventory management platform.
With this integration, commercial consignors using AutoIMS can use Adjusted MMR, which now accounts for a vehicle’s AutoGrade condition and exterior color, as well as mileage and region, to more accurately value their portfolio. Adjusted MMR will also help consignors make remarketing decisions around channel disposition, reconditioning, and floor pricing that better reflect each specific vehicle’s attributes and value.
Additionally, independent auctions can now utilize a new API from AutoIMS to access Adjusted MMR for vehicles in their auction platform. By then publishing Adjusted MMR on their own sites and operational platforms, independent auctions will help their own buyers and sellers value these vehicles and agree on a sale price.
“Adjusted MMR is an important industry valuation tool that informs smarter remarketing decisions,” said Venkat Krishnamoorthy, CEO, AutoIMS. “By integrating Adjusted MMR into AutoIMS and also making it available to independent auctions, our clients and partners benefit from the industry-leading benchmark that will fuel a better overall experience and faster conversions.”
New Mileage Extremes Adjustment for MMR
Manheim has also continued to enhance the accuracy of Adjusted MMR by leveraging its vast amount of data around wholesale transactions along with deep data science capabilities. Adjusted MMR now more accurately values vehicles with much higher or lower mileage than similar cars within the market.
For example: Before the update, a 2012 Honda Ridgeline with only 31,000 miles had an MMR of $18,800. After the enhancement, the new Adjusted MMR was $21,000, which is much closer to the vehicle’s recent $20,800 sale price at Manheim. On the other end of the spectrum, MMR for a 2017 Dodge Charger with 96,000 miles has decreased from $14,250 to $12,700 since the enhancement – much closer to the vehicle’s sale price of $12,400.
“In today’s competitive market, consignors and dealers need a detailed, accurate valuation for each vehicle they offer for sale or consider purchasing,” said Dr. Ben Flusberg, associate vice president of Decision Support at Cox Automotive. “The MMR enhancements we’ve made increase transparency around wholesale vehicle values and drive buyer confidence – both of which are critical to a vibrant marketplace.”
By both enhancing Adjusted MMR’s accuracy and making it more widely available, Manheim continues to help buyers and sellers throughout the wholesale marketplace transact on the right car at the right price.
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.
AutoIMS offers a one-stop shop for managing vehicle remarketing portfolios. As the industry standard partner, AutoIMS simplifies inventory management by offering a central platform for auctions, consignors of all types, repo agents, and others in the remarketing industry to exchange vehicle data. Through a combination of proven, system-to-system data integration options, and a sophisticated online portal, AutoIMS allows remarketers and auctions to maximize remarketing asset returns, reduce manual effort and errors, and avoid costly IT expenditures.