Manheim is the world's leading provider of vehicle remarketing services and serves as a marketplace for the millions of cars that change hands every year.
2008 Key Metrics
Revenues: $3.6 billion
2008 total vehicles sold: 4.7 million
Online buyer transactions: 705,785, up 36% from 2007.
Cars detailed: 2,858,625
- Celebrated 40th year of being a part of the Cox portfolio of businesses.
- Expanded Total Resource Auctions with addition of Cincinnati, Ohio, location and acquisition of five industry-leading salvage auction companies.
- Introduced a new software enhancement that significantly improves the accuracy and consistency of electronic vehicle condition reports for customers.
- Launched revamped Manheim.com, featuring new PowerSearch technology that gives dealers faster, easier access to the vehicles they need.
- Began operations in Turkey via a joint venture with Otomax.
- Named one of the top 50 "Best Employers for Workers over 50" by AARP.
- Despite the economic environment, 30 North American Operating Locations exceeded 2007 financial performance.
- Sales of our Frontline Services, which includes Recon, Dent Wizard and Auto Body Repair, grew 11% over 2007.
- Received top honors for 16 operating locations from customers at the NAAA convention in sales performance, technology and customer service.
- Manheim New Jersey, Manheim Orlando and Manheim Portland were recognized by Wells Fargo Auto Finance for offering customers the highest and most consistent levels of service in their regions.
- Converted 20 operating locations from solvent to waterborne paint. The move is expected to reduce air pollutants by 40 percent nationally and lower volatile organic compounds by 25 percent.
- Installed first-ever solar thermal systems at Manheim Arizona and Manheim Georgia, which use solar energy to heat water that is used to clean vehicles. The energy generated reduces natural gas consumption at the reconditioning facilities by 49% and 55%, respectively.
- Installed first-ever photovoltaic solar panels at Manheim New Jersey. The 42,000-square-foot solar panel installation converts the sun's radiation to electricity and generates 15 percent of the detail shop's electricity.
- Opened Water Conservation Center at Manheim Georgia, treating 15,000 gallons of wastewater and producing 9,000 gallons of high-quality reusable water daily.
- Manheim and its OVE.com business offered 24 sessions of The Wholesale Institute (TWI), a free, traveling workshop designed to assist a dealership in developing best practices for managing used vehicle inventory. The workshop helps both independent and franchised dealers create step-by-step procedures for buying inventory online and provides tips on using Manheim's online properties, including OVE.com, Manheim.com and Manheim Simulcast.
- Manheim Financial Services (MAFS), which provides short-term and long-term floor planning and a variety of financing and insurance programs to independent dealers across the U.S., Canada and Puerto Rico, celebrated its 15th year in business. For the second year in a row, MAFS provided floor planning for over 1 million vehicles in 2008.