The facility held its first sale Sept. 20, and has hosted weekly sales since the October autumn festival, offering more than 250 dealer vehicles and achieving around a 45-percent sale rate. The grand opening event provided the opportunity to invite community and business leaders to the facility and commemorate the partnership between Manheim and Shanghai Guopai, an established auction house in the region.
“Many people in China and in the United States have worked hard to make this day possible,” said Mike Langhorne, chairman of Manheim China Holdings. “After our first visit to China almost three years ago we’ve learned a lot and hopefully have contributed to increased understanding of what’s needed in order to develop a strong, vibrant used-vehicle industry.
“Our goal is to take a leadership role in establishing processes, training procedures, and remarketing services to assist China’s used-vehicle operators, including manufacturers and dealers,” said Dean Eisner, Manheim president and chief executive officer.
Manheim currently operates outside of the United States in Canada, Australia, the United Kingdom, Germany, New Zealand, Spain, Thailand, France, and South Africa.