Manheim announced in a press release the company has delivered several enhancements to the 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. Clients will also enjoy a cleaner interface and more trustworthy estimated retail values. And finally, Manheim will now make 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 the industry’s most trusted source of wholesale vehicle valuations and 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.
With the latest updates, detailed below, Manheim said it has once again demonstrated its commitment to innovation and its 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 offers a new-and-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 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 Dr. 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.”