ATLANTA – Manheim recently joined forces with General Motors Remarketing to execute first-ever Online Event Sales during December and January.
These sales, where no vehicles run down the lanes, have generated solid success rates, with the December 4 event becoming the strongest General Motors Remarketing sale held in-lane or online at Manheim during 2008. Due to the strong sales results, General Motors Remarketing is moving its closed factory sales exclusively to this new format by the end of the second quarter.
“Our goal is to show our customers ways they can improve their business processes and gain efficiencies through online wholesaling - nothing is off-limits, including traditional factory sales,” said Manheim’s senior vice president of account management and customer strategies, Nick Peluso. “We presented a compelling case to General Motors that involved taking a long-established, in-lane auction sale and transforming it into an online sales event with environmental benefits. Manheim’s online and in-lane services give customers an unbeatable combination for future success.”
At the December 4 sale, General Motors Remarketing had a 92 percent success rate; nearly one-half of the vehicles were sold to dealers bidding remotely via Simulcast. Additional sales were held on January 7 and January 8, with success rates reaching 84 percent and 93 percent, respectively.
During Manheim’s Online Event Sales on Simulcast, registered Manheim dealers bid online - whether offsite or onsite. A live auctioneer leads the sale at the host location with dealers viewing still vehicle images, condition reports and bidding activity.
Manheim Online Event Sales are held on either Manheim Simulcast or www.OVE.com, providing dealers with access to the largest selection of inventory and providing national sellers the ability to reach the widest audience of buyers.
Online sales also reduce travel time and mileage for dealers and have the potential to generate environmental benefits. Dealers can also choose to visit Manheim locations to participate in these sales, if they prefer.
“We could not be more pleased with the results achieved from these Online Event Sales,” said Mark Mathews, director of GM Rental and Used Vehicle Activities. “While this is a significant change from how we’ve sold factory vehicles in the past, it represents an opportunity for us to take advantage of new ways of doing business that increase efficiencies and make it easier for dealers to do business with us.”