ATLANTA – With wholesale remaining largely digital, it’s never been more important for dealers to buy and sell online with ease. That’s why Manheim has released three new enhancements to its digital marketplace designed to benefit buyers and sellers: significantly more images on vehicles checked in at a physical location, the opportunity to more easily transact at below-floor prices and an additional sale format. These new additions come as Manheim’s audience has grown substantially, with sales attendance surpassing pre-COVID levels nearly 19%.
As our teams work to instill greater buyer confidence when doing business digitally, these new enhancements are the first of several that we will be rolling out to improve the auction experience.
“While wholesale remains mostly digital, the Manheim Marketplace is more active than ever,” said Zach Hallowell, vice president of Manheim Digital. “As our teams work to instill greater buyer confidence when doing business digitally, these new enhancements are the first of several that we will be rolling out to improve the auction experience.”
To help dealers better understand a vehicle’s condition—and enable sellers to better showcase their inventory—vehicles that are brought to a Manheim location for sale will have a standard set of at least 15 images; this is up from seven images captured previously. Additionally, the new OVE Review Window benefits both sides of the transaction by enabling sellers to move more inventory and helping buyers acquire vehicles at prices they’re willing to pay. And finally, new Flash Sales offer buyers and sellers a quick bidding environment and special promotions, bringing them additional excitement, exposure and deals. More details follow:
More Images = More Information on Vehicle Condition
Manheim is investing in helping dealers make more confident digital purchases, with a strong focus on expanding available condition information. All vehicles checked in at a Manheim location will have at least 15 images, and potentially up to 18, depending on vehicle features. This is more than double the number of images included in the previous standard image package. Best of all, clients who already use Manheim’s imaging or condition report services will get this expanded set at no additional charge, and new clients will pay only the previous 7 image price. This expanded package will begin rolling out in September, with all Manheim locations offering it by the end of the year.
More images can provide a clearer picture of the vehicle’s cosmetic condition, a key factor dealers consider when deciding to bid or buy. Below is the list of images dealers will begin seeing on vehicles listed from a Manheim location:
- Interior: trunk, odometer, manufacturer tag, left front interior (driver’s side), right front interior (passenger’s side) center dashboard, engine and driver door panel with controls
- Exterior: front, back, left front corner, right front corner, right back corner and left back corner
- Additional Images (if applicable): backseat, sunroof and 3rd row
This is the first of several imaging enhancements Manheim plans to release, including undercarriage imaging, which Manheim is currently piloting in Texas.
New OVE Review Window
Today’s high wholesale prices have made it challenging for some dealers to find the right inventory at the right price. However, dealers who turn to Manheim’s OVE platform will now have additional opportunities to win vehicles at below-floor prices with the new OVE Review Window. If a vehicle has bids below the floor price, a two-hour window will open at the end of the sale, enabling sellers to review the highest bid and decide whether to close the deal. The OVE Review Window allows sellers to list vehicles on OVE with bids below the floor price. In an ever-changing market, by providing this capability, the Review Window helps sellers fully access market values, allowing them to move inventory on their terms.
New Sale Format: Flash Sales
Manheim clients now have an additional option for buying and selling vehicles digitally: Flash Sales. An alternative to the daily listing schedule, these sales will feature rotating sellers and appealing promotional offers for just two hours. Participating sellers receive featured marketing on OVE, targeted marketing support and more, while buyers benefit from rotating promotions. Recent promotions have included a complimentary DealShield Purchase Protection Guarantee on all purchases, as well as inventory priced under $10,000.
These enhancements come on the heels of two recent digital integrations between vAuto and Manheim. First, a new feature in vAuto’s Provision enables clients to request a Manheim Express Concierge specialist, so they can more quickly and effortlessly get their inventory listed right from their lots. Second, vAuto’s Stocking Grade and Strategy Action now appears within the recommended vehicles carousel on Manheim.com, which helps enable dealers to quickly see how suggested vehicles fit with their current business plans.
Originally posted on Auto Dealer Today