Wholesale used vehicle prices were flat in February, halting three months of declines, according to Manheim’s Used Vehicle Value Index.
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Manheim is launching Manheim Express, a mobile app for dealers that gives dealers a self-service method of listing and selling inventory through the Manheim marketplace, according to a company announcement.
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Jim Williams will succeed Patrick Brennan, who previously served in the position but was recently promoted to senior vice president of Inventory Solutions’ Marketplace.
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Wholesale used-vehicle prices decreased 0.74% month over month in January. This brought the Manheim Used Vehicle Value Index to 131.0, a 4.9% increase from a year ago but the lowest level since last July.
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In 2017, 40% of vehicles sold at Manheim were purchased through a digital screen versus in-lane, reported Manheim in a recent announcement. This meant that through 2017, 2 million vehicles at Manheim auctions were purchased through a digital transaction.
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Both of Manheim’s logistics solutions saw growth in 2017. Through both solutions, a little under 9 million vehicles were touched by Manheim's logistics solutions, the company stated.
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Manheim’s used vehicle value index — which tracks how wholesale used vehicle prices change month-to-month — for December came in at 132, 1.91% month-over-month decrease and an increase of 5.6% year-over-year.
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In his new role, Hallowell will direct and coordinate the overall domestic and global operational activities for digital channels such as Simulcast, OEM-specific marketplaces, Manheim.com, and OVE, along with RMS Automotive and its global business, the company stated.
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Manheim has expanded the role of its vice president of digital inventory solutions Derek Hansen, bringing on additional responsibilities and a new title, according to a company announcement.
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Typical seasonal highs and lows were disrupted this year due to a run of natural disasters destroying hundreds of thousands of vehicles and causing a surge in replacement activity. Overall fleet depreciation improved this year.
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