09/21/2023 | Press release | Distributed by Public on 09/21/2023 10:00
ATLANTA - September 21, 2023 - As the remarketing industry continues to evolve, physical auctions are in an ideal position to provide clients with the vehicle services they will need to meet changing industry trends and requirements.
With investments of more than $200 million over the past few years, Manheim continues to deliver innovations in key areas that equip clients with services and expertise that position them for future growth. In addition to vehicle services, Manheim is also driving sustainability initiatives such as energy conservation.
"We believe the vehicle services and sustainability efforts that our wholesale physical auctions provide will be vital to the future health of our industry and communities," said Grace Huang, president of Cox Automotive Inventory Solutions. "The investments we are making now at our physical sites in the areas of EV innovations, technology, vehicle information and training will help our clients achieve success in this changing industry landscape."
Continuing to Prepare for EV Growth
In 2019, Manheim began creating an EV infrastructure to prepare its locations for future growth. This included installing 800 EV charging stations, training more than 850 technicians to ensure the safe handling of EVs, and completing a Cox Automotive EV battery health pilot program at 10 Manheim locations. This program captures VIN-specific information to accurately assess EV health data for several makes and models, while other testing is underway to further expand battery health across more models.
By year end, the company will install 70 additional EV charging stations, deploy more than 10 mobile charging solutions and operate an EV charger recycling program. Through August, Manheim U.S. operating locations processed over 25,000 used EVs, representing a 43% rise from the same period in 2022.
Making the Digital Buying Experience as Good as Seeing it in Person
Today, digital buyers and sellers rely on high-resolution images to better understand vehicle condition. Manheim's Fixed Imaging Tunnels, powered by Fyusion artificial intelligence technology, are transforming the process by creating superior images with consistent angles - all captured while a vehicle is in motion. And with undercarriage imaging, the tunnels provide the industry's most complete vehicle view. These tunnels capture approximately 2,500 images of a vehicle's exterior in seconds and automatically select the 12 best to include in a condition report. Today, Fixed Imaging Tunnels are in operation in Atlanta, Minneapolis, Tampa and Ohio with seven more under construction and 31 planned by year end.
Developing Skilled Talent with Auto Technician Training Centers
In response to the high demand for skilled auto technicians industrywide, Manheim has created Auto Tech Training Centers at locations in California, Florida, New Jersey and Dallas. To date, these centers have trained 372 technicians to support the company's growing need for wholesale, retail and fleet reconditioning services. The Centers also complement Manheim's technician apprentice program, designed to develop future talent, as well as our new "Women Who Wrench" mentorship and recruiting program.
Furthering Our Commitment to Sustainability
Manheim is also investing $6 million in energy conservation projects this year as part of Cox Enterprises' national "Cox Conserves" sustainability initiative, which is designed to drive meaningful progress toward environmental change. This includes nearly $2 million to install large-scale energy savings equipment at Manheim Pennsylvania and Manheim Nashville aimed at preventing more than 4,340 tons of carbon from entering the environment.
Manheim® is the nation's leading provider of end-to-end wholesale vehicle solutions that help dealer and commercial clients increase profits and efficiencies in their used vehicle operations. Through its physical, mobile and digital sales network, Manheim offers services for decisioning, buying and selling, floor planning, logistics, assurance and reconditioning. Operating the largest vehicle wholesale marketplace, Manheim provides clients with choices to connect and transact business how and when they want. With nearly 5 million used vehicles offered annually, Manheim team members help the company facilitate transactions representing nearly $80 billion in value. Headquartered in Atlanta, Manheim North America is a Cox Automotive™ brand. For more information, visit press.manheim.com.
About Cox Automotive
Cox Automotive is the world's largest automotive services and technology provider. Fueled by the largest breadth of first-party data fed by 2.3 billion online interactions a year, Cox Automotive tailors leading solutions for car shoppers, automakers, dealers, retailers, lenders and fleet owners. The company has 25,000+ employees on five continents and a family of trusted brands that includes Autotrader®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital™ and vAuto®. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with $21 billion in revenue. Visit coxautoinc.com or connect via @CoxAutomotive on Twitter, CoxAutoInc on Facebook or Cox-Automotive-Inc on LinkedIn.
Lois Rossi, Sr. Director, Public Relations
678.557.8904 or [email protected]