Manheim is expanding its AutoGrade condition score licensing program to now be available for non-NAAA auctions and wholesale marketplaces as well as other support entities.
The expansion of the electronic vehicle condition reporting program was done to meet the growing demand from consignors for more consistency in vehicle valuation processes. The program will now be available to third-party inspection companies, software vendors, and consignors.
“Our clients have told us that having access to accurate condition score information is key to understanding a vehicle’s true market value and informing buying decisions,” said Grace Huang, senior vice president of inventory services for Manheim. “By making this program more widely available, we’re helping our customers make more informed buying decisions across the wholesale ecosystem.”
Any organization involved in the vehicle remarketing process will be able to obtain AutoGrade license agreements. Administered through AutoIMS (Auto Auction Services Corporation), the licenses will allow clients to input vehicle damage information via the AutoIMS inventory management system and receive a point-based grade according to Manheim and NAAA standards for various mechanical, structural, body repair and cosmetic defects.
Manheim will charge a small transaction fee administered by AutoIMS to any new customers not currently under contract to help ensure the continued viability of the expanded license program. Current licensees will not be charged a transaction fee until their current contract expires.
“The No. 1 pain point for remarketers is consistent vehicle information,” said Mike Broe, president and CEO, AutoIMS. “With this expanded program, buyers and sellers will have confidence in what the grade means and know that it’s applicable across all platforms.”