Auto auction Manheim is investing $100 million through 2019 to bolster the capabilities of its digital services and apps, the company announced this week.
Coinciding with the announcement is the enhanced launch of Manheim Express, a mobile marketplace for wholesale vehicle buyers and sellers. Enhancements will include “full-service concierge service” for app users. Users will be provided with “a dedicated person who will partner with them on full lifecycle management of listings in the app.”
Specifically, Manheim will soon offer a concierge service for dealers who prefer not to list cars themselves. “We’re excited to deploy this force of highly trained, consultative specialists who can help our dealers maximize efficiency and profitability,” Derek Hansen, Manheim’s vice president of offsite, said in a company release.
Hansen didn’t specify in which market the free concierge service is currently being used but indicated a nationwide rollout expected by January 2019.
The company’s online vehicle exchange (OVE) and remarketing and inventory management (RMS) services will also be updated, and the company’s 360⁰ imaging and integration with vAuto Provision inventory service will be improved. Hansen spoke of the underlying technology driving efficiency.
“Machine learning is an exciting frontier in data science, and we’re using it to provide clients with a more personalized experience in the Manheim Digital Marketplace. This will provide a more efficient shopping experience for our buyers, getting them the right inventory, faster,” Hansen told Auto Finance News. “Additionally, machine learning enables our sellers to turn inventory quicker and with more bidding activity.”
This investment hints at the larger strategy to take advantage of the 24/7 market of online buyers. In the first quarter, Manheim sold 45% of vehicles to digital buyers, up from 39% year over year. Aside from driving efficiency, speed, and profitability of transactions on the platform, Manheim hopes to be set up for future trends.
“With wave after wave of enhancements, we are delivering a future-proof digital marketplace,” Nick Peluso, president of Manheim Digital Marketplace and RMS Automotive, said in the statement. “We are committed to delivering an omnichannel marketplace that dealers can tap that offers the type of choices they need to compete and thrive in today’s fast-moving used vehicle marketplace.”1 - Reader Likes This Post