The mobile experience makes it simpler and easierto access and participate in live, auctioneer-led sales from any location.
Manheim expanded its Digital Block sales, adding seven more locations with in-lane bidding with a live auctioneer; however, vehicles are only displayed on screens and never travel down physical lanes.
Now in the midst of the coronavirus crisis, pressure on residual values is predicted to increase lender’s credit losses as vehicle sales slow and unemployment rises. Now is the time for some creative online solutions.
The nation's largest wholesale vehicle auctions, including Manheim and Adesa, have shifted to digital-only auctions and taken other precautions to protect the facilities from Hurricane Dorian's possible landfall later this week.
For ADESA, moving more of its sales toward digital is a way toward safer auctions.
Fleet management company remarketers discussed trends affecting their day-to-day jobs and the industry as a whole.
Online sales of used vehicles in the wholesale market likely exceeded 2 million in 2018, as remarketing technology made it easier for dealers to evaluate, bid, and buy vehicles beyond physical auction locations.
In 2017, 40% of vehicles sold at Manheim were purchased through a digital screen versus in-lane, reported Manheim in a recent announcement. This meant that through 2017, 2 million vehicles at Manheim auctions were purchased through a digital transaction.
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