Manheim's Simulcast Surpasses $340 Million in Sales
Manheim’s Simulcast service – an online system allowing dealers to remotely bid on and buy vehicles while moving through live auction lanes – has generated more than $340 million in vehicle sales since its launch earlier this year.
Manheim currently has Simulcast capability in approximately 273 lanes at 62 of its North American auctions. By the end of the year, it plans to have 300 lanes of Simulcast at 70 auctions. It also plans to add up to another 300 lanes in 2004, bringing the total to an estimated 600 lanes.
Manheim has approximately 60 lanes simultaneously running Simulcast sales on most sale days each week. At the end of October, 51,000 vehicles had drawn bids on Simulcast; 23,000 were sold to online bidders. Manheim predicts Simulcast sales will reach 30,000 in the next two months.
According to Joe Luppino, vice president and chief operating officer for Manheim Interactive, 95 percent of Simulcast users are equipped with high-speed Internet access, providing them with real-time data and audio/video feeds.
Manheim Online, the Manheim Interactive umbrella under which Simulcast falls, currently has 55,000 registered users.