Manheim created the Online Vehicle Exchange for dealers who don't always want to bid in person for vehicles at its physical auctions. The physical auctions are under the leadership of Peluso's boss: Grace Huang, Cox Automotive's senior vice president of inventory services.
Manheim describes the Online Vehicle Exchange as the auto industry's first intelligent search for wholesale inventory.
OVE's 200,000 registered users buy an average of 380,000 used vehicles a month. With a new auto-complete feature, clients can see matching inventory prepopulate as they type in the search field, and the feature matches inventory, sellers, auction locations and attributes such as vehicle color and location.
In November, Manheim added a Dealer Direct Event sales channel that lets dealers host digital sales using inventory on their lots, without shipping it to a physical auction.
Peluso also remains president of RMS Automotive, which advises automakers on vehicle-portfolio management. RMS Automotive and Manheim Digital Marketplace jointly offer independent dealers access to automakers' remarketed vehicles. In October, Nissan and Infiniti began offering open sale inventory to independent dealers on a digital sales platform powered by RMS Automotive while co-listing them on OVE and manheim.com.
In 2017, the Manheim Market Report was enhanced with more complete wholesale vehicle valuations. Reports now include a vehicle's exterior color and mileage, a mobile view and the AutoGrade condition, a 1 to 5 ranking that has become a de facto industry standard. And in some cases, the valuation tool includes factory build data, eliminating the need to manually decode the vehicle identification number to determine which features, such as a winter package, are on a specific car or truck.