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This growth was in large part fueled by the strong performance of lower-priced vehicles. Compact cars and midsize cars, in specific, saw the strongest growth among all vehicle segments and outperformed the overall market.
Manheim is adding personalized features to its online platforms in 2019.
Online sales of used vehicles in the wholesale market likely exceeded 2 million in 2018, as remarketing technology made it easier for dealers to evaluate, bid, and buy vehicles beyond physical auction locations.
The new technology — Lot Vision — is a GPS-based wireless device placed in a vehicle's on-board diagnostics port. The tracking device can also be attached to a steering wheel in the event that a vehicle does not have an on-board diagnostic port.
Manheim unveiled its updated Express mobile app at NADA 2019 that allows dealers to gain quick access to view, bid on, and purchase vehicles from inventory listed on Manheim's marketplace digital platform.
The Manheim Adjusted MMR is a wholesale vehicle valuation rating that includes aspects such as a vehicle’s AutoGrade condition, exterior color, mileage, and region.
Roughly 124 dealers participated in the sale, with the majority participating through digital channels. Manheim offered 118 vehicles during the sale, and sold more than half.
The top news of 2018 included coverage on the hurricane's impact on the remarketing industry, the effects of the off-lease tidal wave, mobile technology and Manheim.
Manheim has named Fredrick Standfield as senior vice president of its assurance and reconditioning group, according to a company announcement.
Manheim has invested $1.8 million in a new 11,000 square-foot mechanic shop for Manheim San Antonio, according to a company announcement.