Manheim Auctions
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| 200px | |
| Subsidiary of Cox Automotive | |
| Industry | Automotive |
| Founded | 1945 |
| Headquarters | Atlanta, Georgia |
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Number of locations
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145 |
| Parent | Cox Enterprises |
| Website | www |
Manheim, Inc. is an automobile auction company. It is the largest one in the world by volume of trade.[1][2] As a subsidiary of privately owned Cox Enterprises, Inc., Manheim provides services including financing, title work, transportation, recovery, auto body repair, dealership management systems, dent repair and remarketing technology.[citation needed] Manheim's primary business is the providing of auction services for the physical sale of automobiles as well as online tools to connect wholesale vehicle buyers and sellers.
History
The original Manheim Auto Auction was founded in 1945 by Jake Ruhl, Paul Stern, B.Z. Mellinger,Robert Schriber, and Art Walters. Their first sale ran three cars and sold just one. By 1959 Manheim Auto Auction was the largest auto auction in the world. Cox entered the auto auction business in 1968 by purchasing its namesake company, the Manheim Auto Auction, in Manheim, Pennsylvania. Manheim is now the highest volume operator of wholesale auto auctions in the world with 130 locations in North America, Europe, Asia, and Australia.[3] Their flagship and original location, Manheim Pennsylvania is the largest auto auction in the world, with 33 lanes for the sale of cars. This auction also boasts the largest automotive reconditioning center in the United States.
Cox Enterprises owns 98% of Auto Trader, one of the world’s leading providers of online and print automotive consumer information.[4]
Manheim acquired Dent Wizard, the paintless dent removal company (also known as "PDR") in 1998. After turning it into the largest PDR company in the world, Manheim sold Dent Wizard's United States and Canada markets to H.I.G. Capital, a leading global private equity firm, in November 2010.
In 2006 Manheim became interested in Akinvest Inc.[1] This Canadian company started off as a business that speculated on world automobile values in 1991. Owners, Andrei Kouznetsov and Dwight Grovum, developed a new concept that allowed a foreign dealer to have Akinvest perform all of the necessary procedures to have vehicles delivered to the port nearest to that buyer. By 2005 Akinvest, doing business as Exporttrader, was completely developed the service aspects of the business that assisted non-North American dealers. Company became known as the leader in the export of used cars field from North America. All of the major remarketing companies such as Copart , IAA, ADESA, Carfax and Manheim had foreign transactions that were completed by Akinvest/Exporttrader.
The strength of the procedures used were enhanced by superior programming and automated Web Sites, retaining enormous banks of data. Export Trader/Akinvest negotiated for new export programs and procedures with the governments of Canada and United States and was consulted numerous times by International law enforcement on global irregularities . Exporttrader was consulted by marketing firms and journals like the Wall Street Journal [2] to give opinions on global automotive trade and were asked to speak at international conferences. In 2008 Akinvest/Export Trader had 70 employees with offices in Toronto, Moscow and Finland. "Akinvest is the parent company of two of the leading players in the export business: Freightmar International and ExportTrader.com. Freightmar, a registered Non-Vessel Operating Common Carrier (NVOCC)"
The agreement was signed in Jan/09 2009 for a staged buyout of Akinvest/ Export Trader transforming the entire organization under name WES Exporttrader . The final stage of the transfer to Manheim occurred in late 2014. Subsequently in April 2015, Manheim has closed the Canadian offices of WES Exporttrader and moved the operation to Atlanta. They now run "all new "Global Trader" out of Atlanta.
References
- ↑ biz.yahoo.com
- ↑ aisel.aisnet.org
- ↑ manheim.com
- ↑ Lua error in package.lua at line 80: module 'strict' not found.
