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Chase Auto Finance, Manheim Partnership Drives Online Sales Surge

March 3, 2009

ATLANTA - Chase Auto Finance sold 10 times as many vehicles on Manheim's OVE.com in January than it did a year earlier. The sales for just the first month of 2009 equaled 20 percent of Chase's 2008 OVE.com sales volume for all of 2008.

"Chase works proactively with Manheim to ensure that our inventory is priced competitively," said Lynn G. Wolver, national remarketing manager for Chase Auto Finance. "About six months ago, we began working directly with the Manheim team on a new online sales strategy and saw an immediate lift in our sales. And that has continued in recent months, thanks in part to Manheim's understanding of our needs and desire to innovate.”

Chase was a key factor in helping Manheim develop Manheim Mondays, a weekly online blockbuster sales event intended to give buyers more options on a normally slow day. Chase's experience — and success — with the online event sales model helped Manheim develop the tools and services that consignors need most to drive online sales.

"We like to think of our partnership with Chase as our national seller think tank," said Nick Peluso, Manheim senior vice president of customer management. "Dealers like the Chase sale because it is a consistent event that offers a wide selection of competitively priced inventory. Along with our other national consignors, Chase is helping Manheim reach new territory in online event sales."

Manheim Mondays connect buyers to online inventory from several national sellers on a day when dealers generally prefer to stay on their lots.

"Online event sales allow us to turn inventory extremely quickly," said Wolver. "We're able to understand a tremendous amount about our buyers and our business because of the depth of sales data we can track online."

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