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Manheim Relaxes Policies In Wake Of Hurricane Sandy

Flexibility Offered To Help Customers During Challenging Time

ATLANTA – In the wake of Hurricane Sandy’s devastation along the eastern seaboard, Manheim is responding by offering flexibility to some policies, such as storage arrangements, to help dealers during this challenging time. This policy flexibility is available at 11 Manheim locations in the Mid-Atlantic and Northeast markets.

“We wanted to do what we could to address customer concerns about flood damage in severely affected areas while helping them prepare for the expected increase in demand for replacing damaged vehicles,” said Tim Janego, Manheim regional vice president, East.

After the disaster, estimates place vehicle losses in the tens of thousands, prompting an equal number of retail sales to replace consumer and commercial losses. According to Janego, Manheim is anticipating a significant rise in wholesale vehicle demand as analysts predict that retail sales will increase dramatically in the Northeast, further pushing wholesale prices to historic levels. This rise in wholesale prices is estimated to reach its first peak in December. As dealers look to purchase early and heavily to avoid the anticipated wholesale price increases coming in the next few months, lot storage may be a problem.

As a result, Manheim is providing some flexibility to existing policies over the next eight weeks to help all dealerships.

Storage
Limited vehicle storage space on some dealer lots may be an issue because of this natural disaster. Manheim is increasing the storage time limit at 11 locations to 30 days from the usual limits at no cost to the buyer.

Buyer Confidence
Effective immediately, all dealer cars entering these locations that ordered a condition report will receive an additional inspection to detect flood damage. At Manheim locations in the Mid-Atlantic and Northeast markets, this will enhance the customers’ ability to buy with confidence.

Free Super PSI Upgrade
Purchase a 7- or 14-day Post Sale Inspection and receive an additional 3-day extension for November and December. There will be no additional cost to the buyer.

The short-term policy changes listed above apply to the following locations:

Manheim New Jersey
Manheim Philadelphia
Manheim Fredericksburg
Manheim Baltimore-Washington
Manheim New England
Manheim New York Metro Skyline
Manheim New York
Manheim Albany
Manheim Pennsylvania
Manheim Central Pennsylvania
Manheim Harrisonburg

About Manheim (www.manheim.com)

Manheim is the world’s leading provider of vehicle remarketing services. Through its 106 worldwide wholesale operating locations and digital services, Manheim influences every stage of a used vehicle’s life cycle, helping commercial sellers and automobile dealers maximize the full value of their vehicles. Drawing from its auction transaction volume, Manheim Consulting publishes the annual Used Car Market Report, the definitive source of data for the used car industry. Manheim Consulting offers a wide range of services including custom analytics, business optimization and macro economic analysis.

Manheim is the online vehicle remarketing leader, connecting buyers and sellers to the world’s largest, most comprehensive wholesale marketplace through its extensive in-lane and digital offerings. Manheim.com receives nearly 900,000 visits each week.

Additionally, Manheim offers services including reconditioning, certification, inspections, dealer financing, title management and marshaling, among others. Through its wide array of services and technologies, industry publications, customer support and educational offerings, Manheim gives its customers maximum control over how they buy and sell vehicles, helping them to conduct business in the most efficient way possible. Worldwide, the company handles nearly 8 million used vehicles annually, facilitating transactions worth more than $50 billion in value.

Headquartered in Atlanta, Manheim is a subsidiary of Cox Enterprises, a leading communications, media and automotive services company.

NAAA Posted 11/9/2012