This investment follows years of online sales growth for Manheim. During the first half of 2018, digital sales for Manheim grew by 45% year-over-year. In 2017 sales were up 39% year-over-year during the same time period.
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Segments such as compact cars and mid-size cars are outperforming the overall market. Meanwhile, vans, utility vehicles, and pickups are under performing the overall market.
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Used-vehicle auctions have started resuming regular business hours following the effects of Hurricane Florence, which had less of an impact on the U.S vehicle market than Hurricanes Harvey and Irma in 2017.
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Several North Carolina used vehicle auctions closed as a result of Hurricane Florence sweeping into the state, while others shifted to online sales or delayed on-site sales.
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Manheim noted that this increase in wholesale price is an abnormal for this time of year, as higher depreciation is normally expected toward the end of summer.
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Used-vehicle values have held strong this year. A strong economy and more efficient remarketing strategies are helping make 2018 a banner year for used-vehicle values.
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The three key initiatives of the investment were a permeable paving system, a water reclamation center, and site security upgrades.
Read More →Lane Alerts is a Manheim messaging service that sends buyers a text message in advance of a vehicle they’re interested in coming up for sale.
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Cox Automotive has established a new mobility services unit that combines existing businesses, such as its Flexdrive subscription service, with its acquisition of Clutch Technologies' subscription software platform to deliver fleet management solutions for mobility fleets, the company has announced.
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Used vehicle sales continued their strong performance in the wholesale market in July, as an "abnormal bounce" that began in June continued to show strength with overall values increasing in July 1.51% from the prior month, according to Manheim.
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