Welcome to 2021! I’ve always loved the fresh start that a new year represents; bringing along moments of reflection and goal setting for the future. Looking back on 2020, my thoughts turn to the extraordinary challenges our industry faced with brave conviction and our shared optimism that we would emerge a stronger community.
For Manheim, that optimism included the decision that it was possible to safely run live, in-lane physical auctions. While these sales looked different than before, clients told us they enjoyed having another choice to buy and sell cars, and appreciated our ongoing commitment to putting health and safety first.
As I’ve shared in previous updates, one of our priorities going forward is to provide more accurate, consistent vehicle information and best-in-class imaging for our clients. Our recent acquisition of Fyusion, a leader in immersive vehicle imaging solutions for automotive and other industries, is an exciting and significant step toward delivering on this goal.
Fyusion began working with Cox Automotive in 2018 on the creation of imaging capabilities to improve the wholesale vehicle listing process for our Manheim ExpressTM app. This included developing the industry’s first 360-degree and moveable images that allow dealers to walk a car and create a wholesale listing in minutes. Following this innovation, we also collaborated on 360-degree interior imaging and audio and video tags to further magnify a vehicle’s condition. As online usage continues to climb, we believe this partnership comes at a pivotal time to accelerate our ultimate mission: to make the digital buying experience “as good as seeing it in person.”
I also find myself reflecting on our decision last year to create Market Centers, or Hubs, to collaboratively share management and support functions across field locations. By focusing on the services most frequently used by our clients, we have been able to deliver them more efficiently, resulting in processing titles faster, centralizing arbitration claims virtually and delivering team member expertise more seamlessly. This was a huge undertaking that will deliver a more continuous and connected experience for our clients in 2021.
Here are some other product updates that support our clients:
- To give digital buyers greater confidence in their purchases, we created a new Digital Buyer Protection Program. This new umbrella offering provides coverage across Simulcast, OVE and Manheim Express and reinforces Manheim’s commitment to stand behind our vehicle information and protect our digital buyers.
- To provide clients more convenient choices to buy and sell, we continued to invest in our Manheim Express™ app. Now, dealers can run Concierge-inspected cars on their lots in a live, auctioneer-led Simulcast sale. And, we are more than doubling the number of Concierge specialists and offering the new Concierge Inspection Guarantee. When dealers list with our Concierge Service, the team completes a complimentary mechanical, cosmetic and structural inspection, and Manheim will arbitrate any claims related to the inspection in place of the seller.
- To offer dealers access to more appraisal and valuation tools, Manheim and vAuto have teamed up on the new Manheim Dashboard, which enables vAuto Provision clients to make better buying decisions in the Manheim Marketplace.
As we ring in the New Year, my wish is that our industry embraces the opportunities and conquers the challenges that will come our way with continued courage and optimism.
All the best,
Grace Huang
President, Manheim