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Responding to dealer feedback, the Cox Automotive brand has added a 30-day return option to its DS360 wholesale risk management offering. The guarantee is now available at 100 auction sites, guaranteeing 1.3 million vehicles.
The company reported that 45% of vehicles sold in the first half were to digital buyers on Manheim.com. The firm also detailed enhancements it’s planning to make to the Manheim Marketplace over the next few months.
The San Francisco startup announced its partnership with Cox Automotive last week. According to officials, the relationship will help Shift expand operations with reduced capital investment and drive efficient launches in markets where Manheim has a presence.
After making upgrades to its Manheim Market Report this past summer, Manheim announced today that more than 90,000 unique users, on average, access MMR each month.
Used-vehicle value pricing continues to return to pre-hurricane levels but overall remains high, the firm reported this week.
Manheim and ADESA reopened their Florida auction facilities last week, as Hurricane Irma moved north toward Tennessee.
Manheim said it's closing four of its Florida auctions on Friday ahead of Hurrican Irma's expected landfall there. The storm battered Puerto Rico on Wednesday after striking the northern Lesser Antilles and the Virgin Islands with 185-mile-per-hour winds.
Houston auto auctions are slowing coming back online after assessing the impact of Hurricane Harvey.
The index’s July reading shows that demand is absorbing the high supply of newer used vehicles. The good news on the new side is that inventories fell below four million and are at their lowest level of the year.
It was the second consecutive month that Manheim Used Vehicle Value Index reached a record high. Officials said strong retail demand for recent model-year used vehicles is encouraging dealers to buy more vehicles at auction, and the increased demand is more than offsetting the high supply.