Press Releases

ATLANTA – Driven by increased client use of digital and mobile platforms, Manheim achieved unprecedented growth of its offsite channels in 2017 and expects this trend to accelerate in 2018. The company observed transactions and volume growth last year as wholesale vehicle buyers and sellers migrated to a more productive and cost-effective way to move inventory, resulting in:

• 40 percent of vehicles sold at Manheim were purchased via digital screen versus in-lane;
• Two million vehicles were purchased via digital transactions;
• Pure digital platforms – Manheim.com, OVE and RMS – saw 15 percent growth; 630,000 vehicles were sold through digital and mobile platforms;
• Offsite transactions, those happening outside of a physical auction, increased 30 percent;
• More than half of Manheim’s physical auction attendance occurred via Simulcast, reflecting 10 percent of annual sales growth.

“Our goal is to enable clients to conduct transactions in the office, on the lot or on the go – helping them operate their business in the way that best suits their needs,” said Derek Hansen, vice president, Offsite Solutions, Manheim. “Using Manheim’s digital and mobile channels, we deliver efficiency, cost savings and convenience for dealers buying and selling used vehicles.”

To further support client efforts to manage their inventory, in 2018 Manheim will do even more to:

• Connect channels seamlessly with the Manheim Marketplace, delivering the industry’s first omnichannel experience and most comprehensive end-to-end solutions. Manheim is empowering buyers and sellers to create their own seamless, configurable shopping experience by leveraging the company’s strengths and connection to other Cox Automotive brands.
• Expand use of Manheim’s digital event app for inventory on OVE. Reflecting clients’ increased comfort with digital transactions, last year the app was used by 4,000-plus dealers during a four-month pilot program and supported the sale of 27,000 vehicles in the first seven months that it was available. Manheim expects this momentum to continue in 2018, anticipating 50 percent growth in digital event sales.
• Increase client confidence and reduce risk. Dealers can use Manheim’s gold standard condition reports and AutoGrade vehicle ratings, as well as Manheim and DealShield inspection and guarantee products to buy and sell with confidence knowing they can secure a full purchase price refund, plus the buy fee up to $50,000. In 2018, Manheim plans to make additional improvements to its assurance portfolio.

“We understand how important trust is in this business and Manheim stands behind transactions,” Hansen said. “Our company will continue to instill buyer confidence, offering technology and tools that enable clients to take advantage of our digital and mobile channels with peace of mind.”

More Client-focused Improvements in the Offsite Space

Building on digital and mobile trends, Manheim will roll out three client-focused improvements in the offsite space during the first half of the year:

• New OVE search. Launching in Q1, new intelligent search capabilities will provide a more contemporary, personalized feel to help clients get the right inventory in front of the right buyers at the right time.
• Mobile app improvements. Starting in Q2, this new application will support client use of the Marketplace and simplify the appraisal and inventory posting process.
• Seller tool advancements. Available in Q3, a new tool will link Marketplace channels, putting comprehensive options at sellers’ fingertips, including the ability to easily list inventory on multiple digital channels to obtain greater vehicle value before consigning it to a physical auction.

“Also in 2018, capitalizing on the flexibility provided by a digital channel, Manheim will launch customizable storefronts that address unique seller, buyer or inventory needs,” said Zach Hallowell, vice president, Manheim Digital Marketplace and RMS Automotive. “We will enhance clients’ Manheim Marketplace experience and efficiencies to make it much easier to locate and manage inventory across all our channels.”

About Manheim North America (www.manheim.com)

Manheim^® is North America’s leading provider of vehicle remarketing services, connecting buyers and sellers to the largest wholesale used vehicle marketplace and most extensive auction network. Through 127 traditional and mobile auction sites and diverse digital channels, the company helps dealer and commercial clients achieve business results by providing innovative end-to-end inventory solutions. Approximately 18,000 employees enable Manheim to register about 8 million used vehicles per year, facilitate transactions representing nearly $57 billion in value and generate annual revenues of $3 billion. Headquartered in Atlanta, Manheim North America is a Cox Automotive™ brand. For more information, visit http://press.manheim.com.

About Cox Automotive

Cox Automotive Inc. is transforming the way the world buys, sells and owns cars with industry-leading digital marketing, financial, retail and wholesale solutions for consumers, dealers, manufacturers and the overall automotive ecosystem worldwide. Committed to open choice and dedicated to strong partnerships, the Cox Automotive family includes Autotrader^®, Dealer.com^®, Dealertrack^®, Kelley Blue Book^®, Manheim^®, NextGear Capital^®, vAuto^®, Xtime^® and a host of other brands. The global company has 34,000-plus team members in more than 200 locations and is a partner to more than 40,000 auto dealers, as well as most major automobile manufacturers, while engaging U.S. consumer car buyers with the most recognized media brands in the industry. Cox Automotive is a subsidiary of Cox Enterprises Inc., an Atlanta-based company with revenues exceeding $20 billion and approximately 60,000 employees. Cox Enterprises’ other major operating subsidiaries include Cox Communications and Cox Media Group. For more information about Cox Automotive, visit www.coxautoinc.com.

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