The remarketing industry anticipates a surge of lease returns in 2017, which is predicted to climb to 3.4 million units. According to Grace Huang, senior vice president of inventory services at Cox Automotive, “consigners at Manheim auctions have been ‘very flexible in suggesting locations for long-term storage’ or have been open to moving their vehicles to another location.” Janet Barnard, president of Cox Automotive’s inventory solutions group, added that in order to prevent lots from overflowing, remarketers must focus on velocity – “the new-age word for conversion rate.”

“A few benefits of the digital block format are faster sales, enhanced imaging, and more importantly a feel of exclusivity,” Butch Herdegen, general manager of Manheim Central Florida, said in emailed comments. “The dedicated sale space and specialized format really differentiate their sale.”

Manheim is amid a three-year, $4.6 million investment in its three Chicago-area auctions, the company said Thursday.

The upgrades to the auctions — Manheim Chicago, Manheim Arena Illinois and Manheim Milwaukee, which are located within 100 miles of one another — run the gamut from a new Retail Advantage facility and increased lane capacity, to adding pavement, parking and LED lighting.

The flow of talent in the technology industry is complex, but it can also serve as a key indicator of potential future success. Cox Automotive has been named as a company to watch in 2017.

Recognizing the auto auction industry’s seven decades of entrepreneurship, Manheim locations from coast to coast are geared up to celebrate National Auto Auction Week, Aug. 15-19.

Perhaps contrary to dealers who do not have unlimited floor-plan availability, Cox Automotive chief economist Tom Webb said “wholesale pricing is not exceptionally high” even as the Manheim Used Vehicle Value Index moved higher for the fourth consecutive month.

Manheim’s digital channels showed a 22% increase in vehicles sold in Q2 2016 when compared to 2015. This includes increases in avenues such as OVE, Simulcast, and Manheim’s mobile sites and apps.