COMMENTARY: Transferring on the pace of sunshine – The street to higher CRs for sellers

ATLANTA –

It’s been a little over four months since I took on the role of Head of Vehicle Information at Manheim. And during that time I thought a lot about light. Maybe it’s because we’re finally seeing the light at the end of the tunnel with advances in COVID vaccines.

And maybe it’s because we’ve been moving at the speed of light in digital wholesale for more than a year.

Our customers have not been afraid to share their feelings about this transition to a more digital environment. I’ve heard appreciation for our quick response, and I’ve heard concerns about restricted access to personal viewing of inventory. The temporary loss of the ability to “kick the tires” and perform the “scratch and sniff” test detracted from customer confidence, who relied on their more traditional way of assessing inventory.

For some it was not easy to pull this rug out from under you right away. While the security of our customers, team members and industrial partners came even more to the fore, we also had to address the sudden lack of access that customers were used to.

With all of the challenges posed by COVID-19, what was positive was how quickly it accelerated technological innovation – and adoption – in wholesale. What would have taken the industry years, we achieved in weeks and months instead.

One of the areas that was most in focus, at least for us in Manheim, was vehicle information – from condition reports to pictures and beyond that, buyers get the information they need to make good purchasing decisions.

While I now ran vehicle information for Manheim, at the time of the COVID hit GM, I was in Manheim St. Pete, a location that specializes in cars under $ 5,000. Smaller independent dealers, who tend to tend to sell more physically, have been our main customers.

Working with them during the sudden transition to all-digital gave me so many valuable insights into what our customers really need to not just buy digitally, but prefer to buy that way. And it all comes back to giving them the same level of detail about vehicles online that they can get in person.

The great thing about digital is that it can give merchants even more information – more efficiently – than they can get in a physical setting. But the industry still has a little way to go to get there.

They say a picture is worth a thousand words, and improving the imaging is the first way we can give our customers the extra information they need. In 2020, we more than doubled the number of images in online health reports, introducing more angles of the vehicle inside and out.

We have also established an advisory board to meet our customers’ needs as we continue to develop our vehicle information offering, and have implemented a quality health report program that includes extensive training of inspectors and enhanced review of health reports.

Our customers have also noticed the difference. In a recent Manheim survey, around 60% of customers said they had noticed changes. In most cases, it mentions additional images, more consistency, and better descriptions. And a vast majority of them claim that these changes have made them more confident about understanding a vehicle’s condition.

But we don’t stop there.

Our acquisition of Fyusion, an incredibly innovative, industry-leading computer vision company based in San Francisco, will of course bring an unprecedented level of vehicle imaging and insight. In the near future, however, we are preparing to make some big changes to our digital platforms that we are sure our customers will celebrate. Things like better quality imaging and the collection of more mechanical and safety data – everything our customers want and need to know when buying wholesale vehicles.

Right now it’s no secret that condition reports are probably the most criticized thing in auctions these days. My goal in the near future is to get her to at least second place.

However, my ultimate goal is to make sure customers love health reports, rely on them for more insights than they can otherwise get, and ultimately shop online more safely than in person.

It may seem like a lofty goal right now, but I firmly believe it is achievable. That’s why I was excited to take the lead in vehicle information. And now, a little over four months into the role, I’m more certain than ever.

The work of improving not only the quantity but also the quality of vehicle information is an ongoing journey. But as long as we’re moving at the speed of light, we’ll be there sooner than anyone could have predicted a year ago.

Brad Burns is AVP for Vehicle Information in Manheim