Manheim’s Simulcast -- an online system that allows dealers to remotely bid on and buy vehicles as they are moving through live auction lanes -- continues to build on its popularity with dealers and consignors, according to Manheim.
In 2003, its first full year in operation, more than 21,000 unique dealers attended Manheim sales via Simulcast an average of 5-6 times and recorded more than 307,000 online bids. Of the one million cars offered during Simulcast sales, more than 740,000 were sold, purchased by dealers online or in the lanes.
“We are very pleased with how well Simulcast performed last year,” said Joe Luppino, vice president and chief technology officer for Manheim. “The challenge has been keeping pace with the demand, and as we look ahead to the next several months, we expect continued success will enable us to offer Simulcast in more lanes at more auctions.”
Manheim currently has Simulcast capability in 305 lanes at 70 of its North American auctions. In 2003, dealers purchased more than 42,000 vehicles online during Simulcast sales, valued at more than $611 million. Online bidders also recorded the second highest bid on more than 23,600 vehicles, increasing the transaction value of cars sold in the lanes, according to Manheim.
About Manheim
Manheim is a provider of automotive services to commercial sellers and automobile dealers.
By offering multiple selling opportunities and a full array of services -- reconditioning, certification, marshalling, title management, managed remarketing, repossession, end-of-lease-term management, retail inspection, vehicle transportation and dealer floor planning -- Manheim says it impacts every stage of a used vehicle’s life cycle.
Manheim is also a technology provider, supplying tools designed to help commercial sellers and dealers not only manage their businesses, but also realize the full value of their vehicles.
A wholly owned subsidiary of Cox Enterprises, Manheim is a global organization with 32,000 employees at its 124 worldwide locations.
