Moving to an All-Digital Format Has Not Slowed Dealers’ Ability to Secure the Vehicles they Need to Grow their Businesses
ATLANTA – June 25, 2020 – While Manheim Pennsylvania’s 75th Anniversary activities were postponed due to COVID-19, record vehicle demand from dealers in June is a reason to celebrate. Manheim’s flagship auction location sold more than 8,200 of the approximately 10,000 vehicles offered for sale digitally during the week ending June 19. This digital sales week beat last year’s combined physical and digital sales week by almost 900 vehicles. Using Simulcast, OVE.com and Manheim Express, nearly 9,000 dealer buyers participated virtually, showing dealers’ ability to keep their businesses moving forward by leveraging the digital wholesale marketplace.
“While we weren’t able to host our in-lane anniversary sale in March due to COVID-19, we could not be happier about meeting the demand from dealers for vehicles during this most recent week in June,” said Joey Hughes, vice president and general manager at Manheim Pennsylvania. “Even though we could not physically greet and see our clients this week, we are excited about continuing to help them be successful.”
Due to COVID-19, Manheim shifted its 76 sites in the U.S. from physical to Simulcast-only sales beginning on March 16. This included closing all locations to clients and operating with limited staffing based on local and state directives. To assist dealers during this time, Manheim waived all Simulcast buy and sell fees and continues to do so today, and 90% of Manheim sites now offer clients the ability to preview inventory onsite. Earlier this month, the company allowed sellers to represent vehicles on the block and piloted in-lane bidding at five of its sites beginning the week of June 22. Both decisions were made after establishing strict safety protocols based on COVID-19 guidance.
While in-lane physical sales with cars running down the lanes have halted, used vehicle demand is strong and dealers buying vehicles digitally has soared. This is evidenced by Simulcast participation nearly tripling since early April, Simulcast attendance hitting approximately 20,000 attendees each day starting in mid-June and experiencing an 81% increase in OVE.com sales in one week. In addition, the company experienced approximately 1 million digital transactions from January through May, weeks ahead of the same time last year.
“We realize that moving to an all-digital format was a significant adjustment for our clients,” said Manheim President Grace Huang. “Our clients have shown great resiliency, resourcefulness and an ability to overcome challenges, and we thank them for their patience and support as we work together to keep our businesses moving forward in the safest way possible.”
Established in 1945 as Manheim Auto Auction, Manheim Pennsylvania is the world’s largest wholesale auto auction offering more than a half-million used vehicles for sale each year.
Manheim, the nation’s leading provider of end-to-end wholesale vehicle solutions, is celebrating 75 years as an industry innovator, driving success for clients, the company, its employees and the industry. The dream of five men who auctioned off a handful of cars in 1945 from a single-lane location in Manheim, Pennsylvania launched a company that today offers 7 million used vehicles annually and facilitates transactions representing nearly $67 billion in value with the grit and determination of our team members. Through its physical, mobile and digital sales network, Manheim offers services for decisioning, buying and selling, floor planning, logistics, assurance and reconditioning. Operating the largest vehicle wholesale marketplace, Manheim enables clients more efficient ways to connect and transact business how and when they want. Headquartered in Atlanta, Manheim is a Cox Automotive™ brand. For more information, visit http://press.manheim.com