Manheim has launched a new suite of valuation and appraisal products to support dealers with the part-exchange process.
The eVA Valuations, eVA Appraisals, eVA Underwrite and eVA Insight systems all draw on Manheim’s existing valuation technology, which uses wholesale and retail data to calculate accurate vehicle values up to six months in advance.
Cox Automotive’s physical remarketing division said in a statement that the new suite of systems had been designed to offer “tailored solutions across the entire part-exchange process, from online consumer valuation through to insight-led disposal decisions”.
The new systems follow research carried out by Cox Automotive which indicated 80% of dealers expect to offer a full ecommerce experience within the next five years.
Paul Humphreys, managing director of car buying and mobility at Cox Automotive, said: “The move towards online car buying has begun and is gathering pace, but building part-exchange into the deal adds an element of complexity that other parts of the retail sector haven’t needed to overcome.
“In the world of new cars, we already offer part-exchange valuation tools that feed into the full ecommerce offering of OEMs, allowing online consumers to complete their deal, from car configuration right through to delivery.
“eVA Valuations allows dealers to offer this service to consumers looking for a new car through a white label tool that integrates with their website.”
Manheim said that its new eVA Appraisals system is a vehicle inspection tool that helps the dealer sales team to deliver accurate, consistent part-exchange appraisals.
Meanwhile, eVA Insight uses data to inform retailers’ decision-making on whether to sell a vehicle on the forecourt or remarket it the wholesale network.
Manheim will offer to buy the car for a guaranteed price via eVA Underwrite.
Humphreys said: “Manheim has been a market leader in valuation and appraisal technology since the launch of its Seller Advance product in 2009. Manheim Valuation & Appraisals takes this product to the next level with the addition of a consumer facing tool, deeper insight, and the option to sell the vehicle for a guaranteed price.
“All our current Seller Advance clients will be migrated to the new platform during 2020 enabling them to benefit from the growing demand for ecommerce services in the automotive sector.
“We’re extremely excited about this new suite of products and the benefits they will bring to our customers.”