Manheim Interactive Inc., the e-commerce subsidiary of Manheim Auctions Inc., has announced that vehicle sales over its Manheim Online (MOL) CyberLots have exceeded $1 billion through the third quarter of 2000. More than 68,000 vehicles have been sold this year via MOL, which is an increase of 126 percent in volume over the same period in 1999.
"The number of cars sold over Manheim CyberLots this year alone surpasses the total for 1996 through 1999 combined," said Hal Logan, president and CEO of Manheim Interactive. "This incredible rate of growth demonstrates the used-vehicle industry's acceptance of online auction mechanisms."
Manheim CyberLots are online forums that auto dealers, manufacturers and corporate remarketers can use to buy and sell cars over the Manheim Online Website (www.manheim.com) 24 hours a day, seven days a week. CyberLots consist of both fixed-price sales formats and timed online auction formats.
Manheim Interactive has 45 CyberLot partners spanning all major vehicle manufacturers, financial institutions and rental-car companies. There are currently some 14,000 subscribers to the Manheim Online Web service.