Manheim to Combine Marketplace Channels
Manheim will deliver the industry’s first omnichannel experience through its new Marketplace solution, the company announced.
Backed by a multiyear investment in the Manheim Marketplace, the company is positioned to offer the most comprehensive end-to-end solutions and services, enabling wholesale vehicle buyers and sellers more opportunities to effortlessly connect and transact business how and when they want, according to Grace Huang, president of Manheim Inventory Solutions.
“Manheim’s vision is to transform our operations into a seamless, 24/7 marketplace that enables our clients to buy and sell vehicles and solutions effortlessly,” Huang said. “The strength of Manheim and its connection to other Cox Automotive brands offer the kind of value to dealers and commercial clients that no other company can match.”
The creation of the new Marketplace began in 2014 with the company’s $400 million multiyear initiative to transform its auction operations. Since that time, Manheim has strengthened its digital and mobile platforms, enhanced buyer confidence through technology and tools to capture more accurate vehicle information, blended data science and analytics to take the guesswork out of decisionmaking and created the largest mobile auction sales network in the industry, according to the company.
Several of the Marketplace solutions have already been integrated, enabling dealers to search inventory across OVE, Manheim.com and OEM-specific marketplaces, as well as easily add on services to increase velocity. For example, the company has built private, branded digital stores for BMW Group Direct, Nissan and INFINITI RPM, MBonDemand and others. Even before being fully realized, the Manheim Marketplace is now the largest and most active in the world, supporting 58 million unique visits and 10 million unique vehicle listings annually, all according to Nick Peluso, president of Manheim Digital Marketplaces and RMS Automotive.
“We’re well on our way to creating a first-of-its-kind, omnichannel experience that will offer many touchpoints and more effectively meet the needs and preferences of buyers and sellers,” Peluso said. “Next year, Manheim will do even more to bring integrated solutions and value-added experiences to Manheim’s audience of buyers and sellers — the largest in the industry.”
Source: F&I Magazine