TOYOTA AND LEXUS FINANCIAL SERVICES ACHIEVE RECORD-BREAKING RESULTS WITH MANHEIM ONLINE EVENT SALES IN JUNE
corp_C FOR IMMEDIATE RELEASE CONTACT: Lois Rossi June 30, 2010 Director Public Relations, Manheim (678) 645-2028 TOYOTA AND LEXUS FINANCIAL SERVICES ACHIEVE RECORD-BREAKING RESULTS WITH MANHEIM ONLINE EVENT SALES IN JUNE ATLANTA - Toyota Financial Services (TFS) and Lexus Financial Services (LFS), Toyota Motor Sales U.S.A.'s captive finance companies, had record-breaking results with Manheim Online Event Sales in June. During the month, more than 2,500 pre-owned Toyota and Lexus models were sold during four open weekend online sales, up from 732 cars sold during the same month's Online Event Sales in 2009. "This record sales volume of wholesale vehicles really speaks to the desirability of the brands and the power of Manheim's online sales channels," said Ralph Fisco, national remarketing manager, Toyota Financial Services. "Our Online Event Sales continue to deliver consistently strong results and we expect this growth to continue in the coming months." With competition for pre-owned vehicles at industry-high levels, more buyers than ever are taking advantage of Manheim's online channels. An average of 400 bidders participated in each of the TFS and LFS Online Event Sales during June, raising Toyota and Lexus' year-over-year sales percentage by 15 percent. "Toyota and Lexus continue to be one of our most successful consignors because they exceed buyer expectations in every area," said Nick Peluso, senior vice president customer management, Manheim. "Their success is built upon consistency in every category, from offering and pricing to condition of the vehicles. TFS/LFS has focused on building buyer confidence and a solid seller reputation." TFS and LFS host their bid-only Online Event Sale each weekend on Manheim's OVE.com <http://ove.com/> . The open sale starts on Friday at 8 p.m. and ends on Manheim Monday at 2 p.m. Inventory previews are available beginning each Friday afternoon. Toyota and Lexus will host a Fourth of July Weekend Online Event Sale on Manheim.com July 2-5, and it will be part of Manheim's "Revolutionary Sales Weekend." As part of this special Fourth of July event, buyers will have the opportunity to win one of 16 Apple iPadsR. For more information about upcoming TFS and LFS Online Event Sales, please visit Manheim.com <http://manheim.com/> 's homepage and click on the Daily Sales link. About Manheim (www.manheim.com <http://www.manheim.com/> ) Manheim is the world's leading provider of vehicle remarketing services. Through its 130 worldwide wholesale operating locations, Manheim impacts every stage of a used vehicle's life cycle, helping commercial sellers and automobile dealers maximize the full value of their vehicles. Drawing from its auction transaction volume, Manheim Consulting publishes the annual Used Car Market Report, the definitive source of data for the used car industry. Manheim Consulting offers a wide range of services including custom analytics, business optimization and macro economic analysis. Manheim is the online vehicle remarketing leader, connecting buyers and sellers to the world's largest, most comprehensive wholesale marketplace through its extensive in-lane and online offerings. Manheim.com <http://manheim.com/> receives nearly 900,000 visitors each week. Additionally, Manheim offers services including reconditioning, certification, inspections, dealer financing, title management and marshaling, among others. Through its wide array of services and technologies, industry publications, customer support and educational offerings, Manheim gives its customers maximum control over how they buy and sell vehicles, helping them to conduct business in the most efficient way possible. In 2009, Manheim handled nearly 10 million used vehicles, facilitating transactions worth more than $50 billion in value. Headquartered in Atlanta, Georgia, Manheim is a subsidiary of Cox Enterprises, a leading communications, media and automotive services company. ###