Manheim is the first in the industry to offer a two-way texting feature, OVE Text Notifications, that allows buyers and sellers to negotiate transactions via text. It can be accessed through the company's mobile app or the OVE online platform.
With the introduction of OVE text notifications dealers have the ability to fully negotiate transactions via text, according to a release.
The new two-way text feature, which allows dealer clients to make inventory transactions at anytime from anywhere, allows them more time to focus on their customers.
Since its launch in January, more than 5,000 dealers have signed up and more than 2,800 vehicles have been sold via text.
OVE has more than 7,500 dealers participating and over 240,000 vehicle listings a month. OVE transactions are up 21% over last year’s performance and March was the highest month on record, according to Manheim.
Building on this feature is the OVE Daily Sales, which offers more competitive bidding. All Daily Sales vehicle listings start and expire together each day. At 4 p.m., the vehicle sells, is relisted or comes down from the site, based on the seller’s specifications.
Live inventory is now relisted in minutes versus hours. Added in March, Daily Sales are expected to increase competition and make it easier to make the right inventory choices, as buyers and sellers gain a clear view of their cash flow and inventory on a daily basis.
“This approach offers a more aggressive bidding environment and provides greater urgency for sellers to price right and for buyers to buy right away,” said Stephen Smith, VP of product management, Manheim. “Daily sales benefits all clients, with the ability to track cash flow for bought and sold vehicles each day, allowing greater confidence in bid activity.”