Helping customers accelerate their business performance
Since 2005, Manheim Consulting has conducted research and performance studies for the company’s largest dealer and commercial clients, while providing a broader perspective on the industry at large for those who follow the automotive sector. Our team leverages our industry-leading data set to illuminate new remarketing trends, optimize location or sales channel utilization, benchmark client performance against peers, publish studies on leading practices, and bring macroeconomic trends into remarketing context.
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Manheim Used Vehicle Value Index
The Streak Continues
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 0.75% month-over-month in July. This brought the Manheim Used Vehicle Value Index to 130.3, which was a record high for the third consecutive month and a 2.6% increase from a year ago.
Used Car Market Report
The Manheim annual Used Car Market report examines the economic underpinnings of the entire used vehicle market and sector-specific trends that influence the supply and pricing of used vehicles. This report highlights market conditions and buyer and seller strategies within the used vehicle marketplace, provides an update on digital and mobile technology developments. It also includes an annual look at the various industry components, including dealer, rental, repossessions, leasing, and salvage.
Reducing Upstream/Online “Cherry-Picking” Through Accurate, Scientific Floor Pricing
Consignors often price upstream/online channels at a premium to protect against the downside of under-valuing vehicles. As a result, buyers “cherry-pick” the “better” vehicles (i.e. cars worth the premium) from upstream/online channels, and only the “worse” vehicles are left for physical auctions. To address “cherry-picking”, we developed a statistically-driven, VIN-specific, wholesale valuation model – based on the Manheim Market Report (MMR) and vehicle odometer, damage, content, and exterior color. We used this model to set floor prices on a consignor’s upstream/online portfolio and tracked performance of both sales and no-sales that later sold at Manheim. Compared to the consignor’s own floors, scientific floors reduced “cherry-picking” and improved retention in all channels.
Vehicles with an Electronic Condition Report (ECR), are three times more likely to receive a bid, and are twice as likely to sell as a vehicle without an ECR.