AiM (Alliance Inspection Management) and Manheim announced the formation of a strategic alliance, which includes an investment to develop inspection technologies and create greater consistency in the inspection process.
The need for consistency is vital, as today buyers and sellers rely on AiM, Manheim, and others to conduct vehicle inspections on more than five million used vehicles each year. By sharing best practices, the future vehicle information needs of both buyers and sellers will be enhanced.
“I’m excited that Manheim will be a part of expanding our capabilities and reach,” said Jim Yates, AiM President and CEO. “We look forward to taking advantage of Manheim’s leadership and expertise in this area to address the industry’s vehicle information challenges. Our goals are to work toward a more flexible and consistent inspection process that will result in a common condition report, which we hope will become the gold standard of quality.”
This relationship strengthens AiM’s network, which includes automakers such as Nissan. AiM will maintain its independent operations, reflecting its commitment to standardize vehicle information and increase transparency and trust in vehicle transactions. Recognizing the importance of vehicle inspection quality and the accuracy of vehicle information to customers, the alliance is an effort to provide products, services and best practices that will effectively and efficiently support both wholesale and retail activities.
“Manheim is committed to investing in areas that improve the buying and selling experience for customers, and based on their feedback, improving the quality and consistency of vehicle inspections standards is at the top of our list,” said Shane O’Dell, Senior Vice President, Manheim Wholesale Services. “Working with AiM, we believe we can accelerate this effort and deliver more effective products, services and solutions to customers and the industry.”
The new alliance is a natural fit because Manheim and AiM are already independently developing solutions to enhance vehicle information. AiM’s MarketConnect innovation, which provides the power of multi‐platform access to online wholesale auctions to maximize revenue, speed and ROI for buyers and sellers, is driving positive change toward more effective remarketing practices for the industry. At the same time, Manheim is helping to improve inspection standards by making its patented AutoGrade vehicle condition rating system available to the remarketing industry. An AutoGrade vehicle condition rating removes human subjectivity from the vehicle information collection process by applying an objective point scale to assess vehicle condition. More than 100 auctions currently use AutoGrade vehicle condition ratings, the National Auto Auction Association endorses it, and adoption rates continue to increase with buyers and sellers benefiting from the new standard of accuracy and consistency it provides.
With more transactions migrating online, accurate and consistent vehicle information is becoming increasingly important to buyers looking for the best value and sellers looking to move inventory quickly.
“With Manheim’s help, and the support of others in the industry, we can get a better understanding of the cradle‐to-grave lifetime brand value of cars. We can better assess normal brand and model depreciation, condition and damage, as well as the impact of multiple transactions on a vehicle’s value, and we want to empower customers with that information,” said Yates.