Manheim enhances MMR, opens access to all wholesale marketplaces
Manheim announced enhancements to its Manheim Market Report, broadening MMR’s coverage while making it more responsive to fast-changing market dynamics, adding a cleaner interface and providing more trustworthy estimated retail values.
Manheim is also making 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,” Cox Automotive senior vice president of Manheim Digital Zach Hallowell said in a news release.
“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 source of wholesale vehicle valuations used by tens of thousands of consignors and dealers each month to value millions of used vehicles. Manheim said it was used 2.5 billion times to value vehicles in 2022.
The changes include:
Coverage: MMR was previously able to value 97% of all vehicles listed in the Manheim Marketplace. That has increased to 98.5%, covering half of the remaining cars that didn’t previously have an MMR value.
Speed and accuracy: MMR has used 30-day lookback as an indicator of current vehicle values based on past sales, but with today’s faster market swings MMR is able to take into account broad marketplace fluctuations as they are happening, more closely reflecting vehicle values in real time.
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 an improved retail value as well, based on real transaction data from Cox Automotive.
Experience: A simplified interface puts more information at users’ fingertips. Manheim said the improvement in the user experience design allows users to make better and faster data-driven decisions.
More widely available: Previously, MMR was available to clients through Manheim.com and syndicated to third-party software providers. 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,” Cox Automotive senior vice president of data solutions Ben Flusberg said. “The enhancements to MMR and increased access to the tool show our commitment not just to 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.”