Clients are increasingly turning to digital options to gain efficiencies.
ATLANTA – November 21, 2019 – Manheim’s investment in giving clients more ways to transact anytime, anywhere is driving greater confidence, with clients increasingly turning to the company’s digital platforms for their wholesale needs. Across Manheim, digital wholesale channels have seen exponential growth in 2019—hitting the two million transaction milestone in the first week of November. In addition to providing an efficient auction experience, Manheim’s digital platforms provide a safer way to buy while helping clients more effectively run their businesses.
“At Manheim, we’re enabling clients to transact when, where and how they want to, and more and more clients are realizing the significant benefits of going digital,” said Zach Hallowell, vice president of Manheim Digital. “With the largest audience of buyers and widest selection of vehicles, our digital platforms bring significant value to clients on both sides of the sale.”
In October, 48% of vehicles were sold to a digital buyer. Digital-only transactions—those that take place through Manheim.com, Manheim Express, OVE and Private Stores—are up 22% year over year, and Simulcast transactions are up 9% in that same timeframe. Some sellers in Manheim’s Digital Private Stores have seen as much as 50% growth in their sales.
Kirk Lamont, purchasing coordinator at Robinson Automotive, had this to say about buying in the digital wholesale marketplace: “In this day and age when you have so many devices, why not buy digitally? It’s an easier platform. As long as you do your homework up front, you know what you’re bidding on. One of the main benefits is when I have a client looking for a particular vehicle that I can’t find locally, I have the confidence to go outside my region, look at some cars and know they’re described as they should be. All I have to do is just push a button and buy a car.”
In addition to growing its various digital-only platforms, Manheim has also ramped up the number of Digital Blocks across its physical footprint, which now comprise 20% of the company’s physical lanes (up 30% in the last three months). Digital Blocks provide all the things clients enjoy about a physical sale—the excitement, auctioneer and in-lane and online bidders. The only difference is that vehicles are shown on screens rather than being driven through the lanes
Manheim Tucson recently became the first location to go “all digital,” converting all of its lanes to Digital Blocks. Sales rates and vehicle values have continued to show strong results, proving that a digital sale can be just as successful as a physical one for buyers and sellers alike.
Through the end of 2019 and beyond, Manheim will continue investing in its digital platforms, bringing more choice and value to clients who transact in the largest and most trusted wholesale marketplace.
About Manheim (www.manheim.com)
Manheim® is North America’s leading provider of end-to-end wholesale solutions that help dealer and commercial clients increase profits in their used vehicle operations. Through its physical, mobile and digital sales network, Manheim offers services for inventory management, buying and selling, floor planning, logistics, assurance and reconditioning. With its omni-channel approach, Manheim Marketplace enables wholesale vehicle clients more efficient ways to connect and transact business how and when they want. Approximately 17,000 team members help Manheim offer 7 million used vehicles annually, facilitating transactions representing nearly $61 billion in value. Headquartered in Atlanta, Manheim North America is a Cox Automotive™ brand. For more information, visit http://press.manheim.com.
