Manheim on June 15 announced several enhancements to its vehicle valuations, Manheim Market Report (MMR), to make it easier for wholesale buyers and sellers to make more informed decisions.
Notably, the company has broadened the coverage of MMR to include more vehicles while making it more responsive to today’s fast-changing market dynamics.
“The market is shifting faster than ever before, and our team has worked tirelessly to ensure that MMR moves at the same speed to reflect data from the Manheim Marketplace in real time,” said Zach Hallowell, senior vice president of Manheim Digital at Cox Automotive, in a recent news release.
Clients will also enjoy a cleaner interface and more trustworthy estimated retail values. Manheim will now make MMR available to all wholesale marketplaces.
MMR's source of wholesale vehicle valuations is used by tens of thousands of consignors and dealers each month to value millions of used vehicles. In fact, it was used 2.5 billion times in 2022 to value vehicles.
Manheim detailed the latest updates:
- More coverage: Previously, MMR was able to value 97% of all vehicles listed in the Manheim Marketplace. Now, that number is 98.5%, covering half of the remaining cars that didn’t previously have an MMR value.
- More accurate: In normal markets, MMR’s 30-day lookback was a trusted indicator of current vehicle values based on past sales. But today’s market swings faster — and now so does MMR. MMR is able to factor in broad marketplace fluctuations as they are happening, so it more closely reflects vehicle values in real time.
- More insights: Understanding the potential retail value of a vehicle is important when buying and selling. In addition to more informed wholesale values, MMR offers an improved retail value as well, based on real transaction data from Cox Automotive.
- Better experience: Clients now enjoy a simplified interface that puts even more information at their fingertips. Thanks to an improved design, they can make faster data-driven decisions.
- More widely available: Previously, MMR was available to clients through Manheim and syndicated to third-party software providers. Now it's accessible to all wholesale marketplaces across the industry.
Originally posted on Vehicle Remarketing