Manheim is creating a new omni-channel marketplace that will offer comprehensive end-to-end solutions and services to the remarketing industry, enabling wholesale vehicle buyers and sellers more opportunities to connect and transact business.
The company will be leveraging its connection with Cox Automotive brands, along with companies in the inventory management, floor planning, reconditioning, and assurance and logistics industries to create the multi-channel marketplace, according to Manheim.
“We’re well on our way to creating a first-of-its-kind, omni-channel experience that will offer many touchpoints and more effectively meet the needs and preferences of buyers and sellers,” said Nick Peluso, president, Manheim Digital Marketplace and RMS Automotive. “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.”
The creation of this new marketplace began roughly three years ago when Manheim launched its $400 million multiyear initiative to transform its auction operations. Since then, Manheim has strengthened its digital and mobile platforms; built on its technology and tools used to capture accurate vehicle information; and created the largest mobile auction sales network in the industry, according to the company.
Several of the new marketplace’s solutions have already been integrated into OEM-specific marketplaces. Some of the manufacturers that Manheim has already built, private, branded digital stores for include BMW, Nissan, Infiniti, and Mercedes-Benz. These integrations allow dealers to search inventory across OVE, manheim.com and their OEM-specific marketplaces.
As it stands, the current Manheim marketplace already supports 58 million unique visits and 10 million unique vehicle listings every year. This is expected to grow once the new marketplace is fully realized.