ATLANTA – In response to strong sales performance and improved efficiencies, Sonic Automotive, one of the nation’s top three auto retailers, extended its two-year exclusive agreement with Manheim (www.manheim.com). Going forward, as a result of its successful relationship with Manheim, Sonic also plans to include Electronic Condition Reports (ECRs) on all vehicles sold.
“Our commitment last year to move and consolidate Sonic’s auction business from competing locations to Manheim locations is the best wholesale move we could have made,” said Hal McLarty, vice president, Sonic. “We appreciate the support the Manheim team gives us, and we look forward to a great partnership in 2012.”
“Our goal is to continue to create efficiencies for Sonic, supporting its purchasing, as well as sales activities,” said Susie Heins, vice president, dealer sales, Manheim. With Manheim’s focus on quality and innovative solutions for dealers, we enhance their customer experience.”
In January 2011, less than 25 percent of the vehicles Sonic offered for sale at Manheim included an ECR. However, beginning Q4 and by the end of the year, half of the units registered for sale had ECRs. Offering ECRs proved highly beneficial for Sonic as its Simulcast reach increased by 36 percent since September, positively impacting vehicle retention.
To further support Sonic, Manheim Consulting provided data demonstrating how ECRs generate more in-lane and online bid activity, and fewer arbitrations. In response, Sonic seized the opportunity to take advantage of the added value ECRs provide by increasing traffic on Simulcast, OVE.com and in-lane, making it three times more likely for a vehicle to be sold.
About Manheim (www.manheim.com)
Manheim is the world’s leading provider of vehicle remarketing services. Through its 118 worldwide wholesale operating locations, Manheim impacts every stage of a used vehicle’s life cycle, helping commercial sellers and automobile dealers maximize the full value of their vehicles. Drawing from its auction transaction volume, Manheim Consulting publishes the annual Used Car Market Report, the definitive source of data for the used car industry. Manheim Consulting offers a wide range of services including custom analytics, business optimization and macro economic analysis.
Manheim is the online vehicle remarketing leader, connecting buyers and sellers to the world’s largest, most comprehensive wholesale marketplace through its extensive in-lane and online offerings. Manheim.com receives nearly 900,000 visits each week.
Additionally, Manheim offers services including reconditioning, certification, inspections, dealer financing, title management and marshaling, among others. Through its wide array of services and technologies, industry publications, customer support and educational offerings, Manheim gives its customers maximum control over how they buy and sell vehicles, helping them to conduct business in the most efficient way possible. In 2011, Manheim handled nearly 8 million used vehicles, facilitating transactions worth more than $50 billion in value.
Headquartered in Atlanta, Manheim is a subsidiary of Cox Enterprises, a leading communications, media and automotive services company.