– Off-lease volumes are continuing to rise making it critical for dealers to shift into high gear and move inventory faster. To drive increased velocity, Manheim is advising clients to take advantage of the multiple channels now available for purchasing inventory. Beyond the physical lanes, clients can acquire inventory at conveniently located mobile sales and online, where buyers can access upstream and independent seller inventory around the clock. To encourage dealers who have not yet purchased inventory online, OVE has launched a six-week national promotion.
The national campaign, which runs March 27 through May 7, features a ‘Buy 3 and the 3rd fee is free’ offer to dealers when they purchase their first three vehicles on OVE. Loyal OVE customers can receive a special gift when they purchase seven or more OVE units.
“Digital channels are becoming increasingly more important to all clients as they save time and provide greater profitability,” said Derek Hansen, vice president of Digital Inventory Solutions at Manheim. “With OVE, it is easier for dealers to position their business ahead of the market with anytime access to the largest online resource for buying and selling inventory.”
According to the 2016 Manheim year-end digital trends report, a record 378,000 vehicles were sold on OVE, bringing the total number of sales to 2.5 million since the online wholesale marketplace was launched.
“More dealers are buying online as increased adoption of condition reports, imaging and assurance offerings, like DealShield, reduce perceived risk and build greater trust in the transaction,” said Hansen. “As a result, Manheim.com, OVE and RMS saw a 22 percent increase in online transactions in 2016 from the previous year.”
In addition, OVE and DealShield are offering online buyers a complimentary DealShield 21-Day Purchase Advantage Guarantee for inventory purchased with an AutoGrade Condition Report of 2.0 or higher and priced between 90-110 percent of the Manheim Market Report (MMR).
With an endless inventory of every make, model and fleet, OVE empowers dealers to buy online any time on their own terms, which makes the buying and selling experience turnkey, flexible and fast.
About Cox Automotive
Cox Automotive Inc. is transforming the way the world buys, sells and owns cars with industry-leading digital marketing, software, financial, wholesale and e-commerce solutions for consumers, dealers, manufacturers and the overall automotive ecosystem worldwide. Committed to open choice and dedicated to strong partnerships, the Cox Automotive family includes Autotrader®
, Kelley Blue Book®
, NextGear Capital®
and a host of other brands. The global company has 33,000 team members in more than 200 locations and is partner to more than 40,000 auto dealers, as well as most major automobile manufacturers, while engaging U.S. consumer car buyers with the most recognized media brands in the industry. Cox Automotive is a subsidiary of Cox Enterprises Inc., an Atlanta-based company with revenues of $18 billion and approximately 60,000 employees. Cox Enterprises’ other major operating subsidiaries include Cox Communications and Cox Media Group. For more information about Cox Automotive, visit www.coxautoinc.com