You could be excused for thinking that this app, unveiled at the NADA Show and expected to go nationwide in July, was Manheim's counter to TradeRev. It also allows dealership personnel to scan the VIN and immediately get an estimate of the vehicle's value from the Manheim Market Report, as well as automaker build data, in many cases.
Then the dealership can decide whether to list the vehicle online with Manheim, order an inspection, consign it to a physical Manheim auction, or get a guaranteed price from Manheim for the vehicle, subject to the dealership buying it from the owner.
To set that guaranteed price, Manheim determines a minimum price and lists the vehicle on the Manheim Marketplace online. If it doesn't sell for that minimum within two business days, Manheim will buy it, which is how the dealership is guaranteed that amount in two days.
If the dealership chooses to list the vehicle online in hopes of a better price, the app allows a staffer to take photos of a vehicle, answer a few condition questions and post everything online. One cool feature: the ability to take 360-degree photos, using technology from the computer vision company Fyusion, and upload everything within three minutes. Bidders then can use smartphones to see the vehicle in the equivalent of a walk-around, while additional photos can zoom in on, say, a scratched front fender.
At the NADA Show, a 6-foot simulated iPhone at Manheim's booth allowed staffers to show passers-by how swiping on a smartphone works with Manheim Express.
Manheim says its main competitive advantage is that it immediately posts the vehicle to all Manheim online markets, drawing on the strength of the auction giant's huge buyer base.
Because dealerships can use Manheim Express with potential trade-ins, they know the minimum and can make a firm trade-in offer to the owner.