Dealers Are Warming Up To Online Vehicle Auctions

When auto auctions went online in the mid-1990s, many dealers were reluctant to participate, saying it was too detached from the auction action. That's changing. More than two-thirds of all U. S. auto dealerships now use Manheim Online to plan auction visits, locate vehicles and check the status of their accounts, says Manheim. On an average day, about 15,000 unique users visit the site (www.manheim.com)

When auto auctions went online in the mid-1990s, many dealers were reluctant to participate, saying it was too detached from the auction action.

That's changing.

More than two-thirds of all U. S. auto dealerships now use Manheim Online to plan auction visits, locate vehicles and check the status of their accounts, says Manheim.

On an average day, about 15,000 unique users visit the site (www.manheim.com) and use one or more of its services. Those include planning auction visits, locating vehicles and checking the status of their accounts.

The number of dealers using the various services has increased 63% in recent months, says Joe Luppino, vice president and chief operating officer of Manheim Interactive.

Resources include Manheim Market Report, a daily source for wholesale vehicle values; pre- and post-sale lists; and CyberLots and CyberAuctions where dealers buy and sell vehicles online. CyberLots and CyberAuctions have sold more than 500,000 vehicles valued at approximately $7.2 billion.

TAGS: Dealers Retail
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