Manheim Online Reaches More than $75 Million in Vehicle Sales Via the Internet
29 January 1998
Manheim Online Reaches More than $75 Million in Vehicle Sales Via the Internet
Manheim Auctions' Internet Service is a Sales Tool for Wholesale Automobile
Professionals; Provides Instant Access to Thousands
of Vehicles Every Hour, Every Day
ATLANTA, Jan. 29 -- Manheim Online (TM)
(http://www.manheim.com), the world leader in auto-related electronic commerce
and an extended service of Manheim Auctions, reached an unprecedented
milestone of more than $75 million in vehicle sales via the Internet. The
online service, which allows dealers to search, view, research and purchase
vehicles 24 hours a day, is a natural extension of and a complement to Manheim
Auctions' traditional auction business. The announcement will be made at the
1998 National Automobile Dealer Association (NADA) Convention in New Orleans
this weekend.
Manheim Online, launched in April 1997 and available exclusively to
wholesale automobile professionals, has built a subscriber base that reaches
more than 4,000 dealers.
"We know the Internet, and we know our customers; that is how we have been
able to build Manheim Online into a hugely successful service within the first
year. Manheim Online has extended and enhanced Manheim Auctions' core
business," said Ralph Liniado, Senior Vice President of Development for
Manheim Auctions. "Our approach to electronic commerce has redefined the
automotive business on the Web and has impacted how the automobile industry
moves cars."
Manheim Online Partners with Top Auto Manufacturers
Manheim Online hosts fully active CyberLots(TM), areas where dealers can
virtually "kick the tires" of automobiles from major manufacturers online.
The service puts wholesale automobile professionals in the driver's seat,
enabling them to view and inspect digitized images of vehicles for sale from
the online CyberLot. Manheim Online makes it possible for dealers to search
for a car by make, model and year with details about the vehicle's equipment,
color, transmission type, mileage and condition.
Manheim Online has forged partnerships and remarketing agreements with
many of the leading automotive companies - both foreign and domestic - and
offers a wide selection of vehicles in Manheim Online's CyberLots. Manheim
Online partners include:
* American Honda Finance Corp.
* BMW Direct
* Chrysler Direct
* GE Capital Fleet Services
* Land Rover Direct
* Lexus Financial Services
* Mercedes Benz Credit Corporation
* Mitsubishi Motors
* Oxford Resources Corp.
* PHH Vehicle Management Services
* Southeast Toyota Finance
* Toyota Motor Credit Corp.
* VW Credit, Inc.
* Volvo Direct
Manheim's CyberLots have a Retail Feature that is designed to enhance
dealers' business by bringing Manheim Online directly to the consumer. This
sales tool allows dealers and their customers to search the site together for
specific vehicles without revealing auction pricing or sales information.
This Retail Feature enables dealers to find and sell cars from across the
nation and bring the revenue to their local dealership.
In addition to viewing and buying cars in Manheim Online's CyberLots,
dealers can read purchase policies, arrange for transportation and learn about
upcoming on-site auctions and events.
Manheim Online Helps Dealers Prepare for Auctions
Manheim Online lists pre-sale inventory for every Manheim Auction
location. Dealers benefit from up-to-date information on all cars on the
auction block at each Manheim Auction location. Prior to Manheim Online, this
important pre-sale inventory information was only available via fax or hard
copy at the auction location.
The Internet Manheim Market Report (MMR) also provides dealers critical
information - - previously only available in hard copy form or on diskette.
MMR provides an accurate, historical database of all vehicles sold -
searchable by make/model, region, auction location or year. By offering
detailed sales information over the Internet, Manheim Online dealers can
knowledgeably price and sell pre-owned vehicles prior to auction and trade-in
situations.
About Manheim Online
Manheim Online, an extended service of Manheim Auctions, is the world
leader in auto-related electronic commerce. Manheim Online has been named one
of the top 10 electronic commerce sites on the World Wide Web by PC Week
magazine. Additional information regarding Manheim Online and Manheim
Auctions is available on the Internet at
http://www.manheim.com.
About Manheim Auctions
Founded in 1945, Manheim Auctions, Inc. is the world's largest operator of
wholesale automobile auctions with more than 70 locations in North America and
the United Kingdom. In 1997, Manheim handled more than six million vehicles
worth over $27 billion. Manheim leads the electronic commerce industry in
wholesale vehicle sales with Manheim Online, available on the Internet at
http://www.manheim.com. In support of the core auction business, Manheim also
provides vehicle reconditioning and certification, automated vehicle pricing
products, dealer floor plan financing, dealer business software, and
government auctions. Manheim is a partner with the Dealer Services Division
of Automated Data Processing, offering free Internet used car listings to
dealers and consumers via AutoConnect.
Manheim is a subsidiary of Cox Enterprises, Inc. In addition to Manheim,
Cox includes Cox Newspapers, Inc., Cox Broadcasting, Inc., and publicly traded
Cox Communications, Inc. and Cox Radio, Inc Cox
Enterprises also provides online news, information and entertainment services
via the Internet through Cox Interactive Media.
Manheim Auctions and Manheim Online are either registered trademarks or
trademarks of Cox Enterprises, Inc. in the United States and/or other
countries.
SOURCE Manheim Online