Manheim celebrated the grand opening of Manheim Wilmington on Sept. 15. Manheim's mobile auction presence in Wilmington, S.C., is one of the company's longest tenured. With two lanes equipped for in-lane and online auction capabilities, Manheim Wilmington also offers inspections, enhanced imaging, OVE, financing options through NextGear Capital and all other floor plan companies, as well as assurance packages through DealShield.
Manheim introduced a sweeping set of enhancements to its Manheim Market Report (MMR).
Adjusted MMR is a more specific valuation because it includes a vehicle's specific AutoGrade condition and exterior color, in addition to vehicle mileage and region. With this enhancement, clients can manually input a vehicle's specific condition, color, mileage, and region to get the Adjusted MMR.
In a September update, the mileage, color, and condition will automatically display and clients can manually select region (based on preference) to get the Adjusted MMR. Adjusted MMR delivers a more accurate vehicle valuation to both buyers and sellers, which drives greater confidence to transact online.
Available across desktop, tablet and mobile devices, the new MMR experience provides insight into how each vehicle-specific adjustment affects its MMR value, and facilitates more transparent pricing using data visualizations that allow clients to quickly compare their vehicle's Adjusted MMR value to the Base MMR value at-a-glance.
The all-new API provides on-demand access to the more-accurate Adjusted MMR values, and also takes advantage of OEM Build Data in the VIN-decoding process, providing convenience and strategic insights to clients with high volumes.
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 0.75 percent month-over-month in July.
This brought the Manheim Used Vehicle Value Index to 130.3, a record high for the third consecutive month and a 2.6 percent increase from a year ago.
On a year-over-year basis, the midsized car category saw the largest decline (down 0.9 percent) in July, while pickups and vans saw gains greater than the overall market. Other car segments like compacts and luxury saw gains in July too.
The average price for rental risk units sold at auction in July was down 2 percent year-over-year, which was a significant improvement over June.
Rental risk prices were up 3 percent compared to June. Average mileage for rental risk units in July (at 41,400 miles) was 2 percent below a year ago.
Manheim announced that Nick Peluso will lead the remarketing leader’s digital strategy as president of Manheim Digital Marketplace, while continuing as president of RMS Automotive.
In his dual role, Peluso is responsible for Manheim’s digital channels, including OVE, Manheim.com and Simulcast, in addition to RMS Automotive’s global business.
Peluso will report to Grace Huang, Manheim’s senior vice president of Inventory Services.
Peluso joined Cox Automotive in 2000 as president of remarketing solutions for Manheim and soon became senior vice president of customer management for Manheim before being named president of RMS Automotive in 2014. Prior to that, he spent 12 years in leadership positions with ADT Automotive Inc., including vice president of sales and marketing.
Manheim announced the opening of six new auctions.
The sales are located in Alabama, Georgia, Illinois, North Carolina, West Texas and Utah. The new, smaller Manheim auction sites offer multi-consignor auctions as well as Simulcast, inspection and reconditioning services. Financing options through NextGear Capital and assurance packages through DealShield are also available.
Fiserv Inc. named Manheim Louisville of Clarksville, Ind., the top performing automobile auction of 2016. Manheim Louisville was a strong performer throughout the year, both in terms of sales effectiveness and operations.
Fiserv, which has been ranking auctions since 2001 to identify qualified partners, managed the remarketing of more than 85,000 vehicles in 2016. The top three auctions are scored on overall sales effectiveness, operational excellence, sales preparation and marketing in the calendar year.
Fiserv also recognized auctions for excellence in the following areas:
Carolina Auto Auction – Operational Excellence
Manheim Louisville – Customer Service
Rawls Auto Auction, based in Leesville, S.C. – Sale Preparation
Manheim Louisville – Marketing
To be eligible for the Top Performance designation, an auction must be a member of the National Auto Auction Association, have sold vehicles with Fiserv for 12 months or more, have a minimum of eight represented sale audits in the calendar year, and have sold more than 500 vehicles in the calendar year.
Wholesale used vehicle prices increased 2.6 percent month-over-month in May.
This brought the Manheim Used Vehicle Value Index to 127.9, which was a record high and represented a 2.8 percent increase from a year ago. The index adjusts wholesale prices for mix, mileage, and seasonality.
On a year-over-year basis, the mid-sized car category saw the largest decline (down 2.4 percent) in May, while pickups and vans saw gains greater than the overall market.
The average price for rental risk units sold at auction in May was down 2 percent year-over-year. Rental risk prices were down 1 percent compared to April.
SUV/CUVs accounted for 29 percent of rental risk sales in May versus 25 percent last May. Compact cars’ share fell to 27 percent from 31 percent.
Average mileage for rental risk units in May (at 38,900 miles) was 9 percent below a year ago.
Manheim announced the promotion of three general managers: Dave Rathjen, Greg Milam and Martin Sandoval.
Dave Rathjen takes over at Manheim Lakeland.
Rathjens began his career at Manheim in 1999 as an inspections manager and, most recently, he was assistant general manager at Manheim Tampa. Through the years, he has held various roles at Manheim Ohio and Manheim Kansas City including vehicle entry manager, body shop manager, repo/lease manager, recon manager and operations manager.
Prior to joining Manheim, Rathjens spent 10 years in the U.S. Army, with the majority of his time as a paratrooper in the 82nd Airborne Division.
He attended Drake and Ashford Universities where he graduated with a Bachelor of Arts in organizational management. He has also participated in various Manheim leadership programs.
Greg Milam takes over at Manheim Seattle.
Milam has held several Cox Automotive leadership roles for the past 18 years. Most recently, he was director of mobile auction sales and operations. He started his career with Cox Automotive in finance and has since held various roles with the organization such as district manager for Dent Wizard, project manager for Manheim China, director for Manheim Exporttrader.com and assistant general manager for Manheim Atlanta.
Milam earned a Bachelor of Science in business administration and a Master of business administration from Auburn University.
Martin Sandoval takes over at Manheim Central California.
Sandoval joined Cox Automotive in 2013. He was most recently a regional account executive for NextGear Capital and, prior to that, he was vice president of operations and director of auto finance at Zinc Financial.
Sandoval earned a Bachelor of Science in business administration and a Master of business administration from the University of Phoenix. He is currently pursuing a doctorate of business administration from California Southern University.
Manheim has named Peter Grupposo as vice president of dealer sales and Holly Capps as vice president of inventory solutions - commercial and wholesale sales.
Both will report to Tim McKinley, senior vice president of sales for Manheim, and assume their new roles effective June 1.
In his new position, Grupposo will lead a team of client executives responsible for developing and managing comprehensive inventory solutions for dealer clients. Having held leadership roles within Manheim’s sales organization since 2014, Grupposo most recently served as Manheim’s vice president of inventory solutions - commercial and wholesale sales.
In 2013, he was named vice president of operations and business development for NextGear Capital where he designed and implemented the sales structure for both the field sales and inside sales functions focusing primarily on the independent dealer space. Prior to that, he held various leadership positions with Dealer Services Corp. and NextGear Capital dating back to 2005, including sales executive, general manager and regional director of sales for the Northeast region.
With Grupposo’s move, Capps will assume the role of vice president of inventory solutions - commercial and wholesale sales, where she will lead a team responsible for maintaining and exploring new revenue and market share growth opportunities for Manheim’s commercial clients. Capps joins Manheim from Cox Media, where she served most recently as group vice president responsible for the leadership and development of sales strategies for the advertising division of Cox Communications, Inc.
Manheim Dallas-Fort Worth has completed a dedicated 3,000-square-foot specialty building to meet growing dealer demand.
The facility, located across the street from its wholesale vehicle operation, will have its own staff and serve dealers in two sales lanes.
The team unveiled its new facility at a grand opening event April 14 with more than 350 buyers. The three-hour event generated an 82 percent sales rate, selling more than $4 million of specialty inventory.