“We have made several enhancements to our digital marketplace to improve the buying and selling process and have further enhancements planned to improve the user experience and overall efficiency. It is exciting to see our clients continue to embrace digital tools to conduct the wholesale side of their business,” said Derek Hansen, vice president of digital solutions, Manheim.
ATLANTA, Nov. 1, 2016 – Manheim’s third quarter Digital Trends report was released today, revealing a 45 percent rise in upstream and offsite transactions that helped fuel overall digital growth and efficiencies. Commercial consignors, dealer sellers and independent auctions have experienced notable growth on Manheim’s Digital Marketplace.
With more than 18 million visits and 416,000 vehicles sold through digital channels in Q3 2016, more clients than ever are experiencing success using Manheim Digital Channels. These channels include mobile transactions on a smartphone or tablet, Simulcast online buying and OVE—Manheim’s online wholesale vehicle marketplace— which have all seen growth in Q3.
“Our clients have asked for flexible digital tools to help them easily source and sell inventory at their convenience,” said Derek Hansen, vice president of digital solutions, Manheim. “We have made several enhancements to our digital marketplace to improve the buying and selling process and have further enhancements planned to improve the user experience and overall efficiency. It is exciting to see our clients continue to embrace digital tools to conduct the wholesale side of their business.”
Mobile Usage Climbs: Nearly 85,000 average monthly users visited Manheim’s Mobile website and apps in Q3, resulting in a 13 percent increase in traffic over prior year. Mobile-exclusive features like VIN Scan and mobile-optimized versions of MMR (Manheim Market Report), Simulcast, OVE, and Seller Dashboard have allowed dealers to more efficiently research, buy, sell, and manage vehicles anywhere at any time. In the third quarter alone, MMR on Mobile generated more than 1.6 million visits, and VIN Scan was used more than 3.5 million times.
More Dealers Participating in Live Online Sales: Using Simulcast, dealers can experience live sales and buy and sell remotely in real time. Simulcast continued to experience explosive growth in Q3 with a 25 percent increase in transactions versus prior year. About half of the active dealers attending a Manheim sale are now using Simulcast at least once a month.
OVE Volume Up: With more than 230,000 unique vehicles available on OVE monthly, there was a 14 percent increase in overall transactions compared to prior year. Centralized commercial listing contributed to the availability of more inventory than ever on OVE. New features like the Live Bid & Offer Report and flexible listing options like Make an Offer, Bid, and Buy Now have allowed independent auctions to more effectively leverage the OVE platform to sell vehicles. In fact, in Q3, transactions facilitated by independent auctions were up 12 percent compared to prior year.
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 125 traditional and mobile auction sites and a robust digital marketplace, 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 7.5 million used vehicles per year, facilitate transactions representing nearly $50 billion in value and generate annual revenues of more than $2.6 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, software, financial, wholesale and e-commerce 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 33,000 team members in more than 200 locations and is 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 of $18 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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