Manheim’s Simulcast service – an online system that allows dealers to remotely bid on and buy vehicles as they are moving through live auction lanes – has generated sales of vehicles valued at more than $340 million since its launch earlier this year, according to the company.

“Simulcast has really taken off in the past three to five months with both dealers and consignors,” said Gordon Warren, vice president for Manheim Interactive. “That success has allowed us to expand it even more rapidly than we had planned.”

Manheim currently has Simulcast capability in approximately 273 lanes at 62 of its North American auctions. By the end of 2003, it plans to have 300 lanes of Simulcast at 70 auctions. It also plans to add up to another 300 lanes in 2004, bringing the total to an estimated 600 lanes.

On any given sale day each week, Manheim has about 60 lanes simultaneously running Simulcast sales. At the end of October, 51,000 vehicles had drawn bids on Simulcast, and 23,000 of those were sold to online bidders. Manheim predicts Simulcast sales will reach 30,000 in the next two months.

“It’s great to have this kind of success with a product that is still relatively new,” said Joe Luppino, vice president and chief operating officer for Manheim Interactive. “It’s gratifying how many dealers are taking advantage of it, and we’re excited about the continued growth we’ll see in the months ahead.”

Luppino said that 95 percent of Simulcast users are equipped with high-speed Internet access, providing them with real-time data and audio/video feeds. Manheim Online, the Manheim Interactive umbrella under which Simulcast falls, currently has 55,000 registered users.

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.