Manheim introduced several enhancements to its wholesale industry vehicle valuation resource, the Manheim Market Report, to help wholesale buyers and sellers make more informed decisions. It broadened the coverage of MMR to include more vehicles while making it more responsive to today’s fast-changing market dynamics. There's also a cleaner interface and more trustworthy estimated retail values. Manheim now makes MMR available to all wholesale marketplaces.
“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. “We're very excited to offer clients across the industry a better, more accurate and more responsive tool that delivers the information they can use to make smart decisions.”
MMR is a trusted source of wholesale vehicle valuations used by tens of thousands of consignors and dealers each month to value millions of used vehicles. Manheim figures show it was used 2.5 billion times in 2022 to value vehicles.
With the latest updates, detailed below, Manheim has strived to demonstrate its commitment to innovation and dedication to helping buyer and seller clients succeed in the automotive industry:
- More Coverage: Previously, MMR was able to value 97% of all vehicles listed in the Manheim Marketplace. Today, that number is now 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. Today MMR is able to take into account 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 now also offers a new-and-improved retail value based on real transaction data from Cox Automotive.
- Better Experience: Clients now enjoy a simplified interface that puts more information at their fingertips. Thanks to an improvement in the user experience design, they can make better data-driven decisions, faster.
- More Widely Available: Previously, MMR was available to clients through Manheim.com and syndicated to third-party software providers; however, Manheim is now making it available to all wholesale marketplaces across the industry.
“The depth and breadth of Cox Automotive’s first-party data is truly unparalleled in the industry,” added Ben Flusberg, senior vice president, Data Solutions, at Cox Automotive. “These enhancements to MMR and increased access to the tool show our commitment to not just continual improvement but to making it easier for buyers and sellers across the industry to make more informed decisions—no matter where they do business.”