At a recent Chrysler sale at Florida Auto Auction of Orlando, 21 percent of the 589 vehicles sold were to dealers who were nowhere near the auction lanes.
The vehicles were bid on and purchased via Manheim’s online Simulcast system. Simulcast allows used-car dealers to remotely bid on and buy vehicles as they are moving through the lanes.
According to Charlie White, general manager at FAAO, dealer attendance is up at their Chrysler sales thanks to Simulcast.
Highlights of the April 16th sale included:
Online dealers from 12 states purchased 125 vehicles total (21 percent of the 589 Chrysler vehicles sold).
Of the 26 online dealers participating in the sale, 16 purchased a vehicle (62 percent).
Online dealers placed 553 bids on 205 vehicles (35 percent of the total cars).
Online bidders placed the second-highest bid 47 times.
Manheim credits Simulcast for 2,500 sales to date in 2003. The company currently has 62 lanes at 16 auctions operating on Simulcast, with 20 consignors, including both dealers and commercial accounts, selling vehicles on the system. The company expects that Simulcast will be installed in 160 lanes at 32 auctions by the end of May.
Originally posted on Fleet Financials