Car dealers cheered yesterday at the Manheim Toronto auction during the official launch event for MUVIT, a new digital auction platform launched by Cox Automotive Canada. The platform connects dealers from coast-to-coast in an online vehicle auction environment that was built in Canada with next-generation technology, including PAVE, an artificial-intelligence vehicle inspection technology.
Maria Soklis, President of Cox Automotive Canada kicked off the event by explaining why the company invested in building the app in Canada for Canadian dealers. “Why did we do this? We did this because we wanted to build efficiency in the remarketing process. We wanted to protect your profitability and customers,” said Soklis.
“There’s no sense in having a standalone digital auction experience if we have nothing to go along with that,” said Soklis, in an interview with Canadian auto dealer, at the event. “We have 70 years of experience, we have an integrated suite of products here through Manheim that are very customer-focused that we wanted to pull into the experience.”
Soklis said dealer customers want a seamless vehicle auction and purchase experience, and the MUVIT platform provides them one-click access to other Cox Automotive services such as NextGear Capital to arrange their financing, Ready Logistics, to arrange vehicle shipping and transport, and Kelley Blue Book for vehicle valuations.
Jerome Dwight, Vice President, Inventory & Financial Solutions, Cox Automotive Canada told dealers the company consulted extensively with dealers before building the platform. “MUVIT is a digital auction in Canada for Canadians — made by Canadians. We have spent countless hours with dealers listening to your challenges, asking you, ‘what can we do differently in the digital auction space?’”
“This is a brand new chapter for us. It completely changes our national presence. We are no longer confined to physical auction sites. It continues to elevate our growth strategy in Canada as a technology company,” said Dwight, in an interview with Canadian auto dealer at the event. “We are making life easier, and more efficient for dealers. Time is money. We want to make remarketing a simpler process.”
Dwight said Manheim’s digital arbitration team is also integrated into the platform. “You can transact with confidence on the MUVIT platform knowing that the power of Manheim’s arbitration team is backing those transactions.”
Dwight said that the MUVIT platform also has an embedded automated vehicle inspection and damage detection technology called PAVE that speeds up the vehicle inspection process. “We think that’s a transformation in this industry,” said Dwight.
A news release to launch the event said that MUVIT offers thousands of vehicles from coast-to-coast with fresh, high-quality inventory added daily, sourced from dealers, OEMs and fleet portfolios. MUVIT helps speed the process of inspecting and posting vehicles online, allowing dealers to list them within minutes.
The company said key MUVIT advantages for buyers include:
- Diverse channels to ensure buyers can find the vehicle they are looking for;
- Access to all of Manheim’s vehicle services including arbitration, PayOnline, inspections, and transportation;
- Buyers get full transparency/disclosures on all vehicles sold using the PAVE AI integrated inspection platform;
- Accurate wholesale market data to refine bidding/purchasing to keep buyers current with dynamic vehicle trends with Kelley Blue Book values;
- Buyers can bid, buy, pay, and order transport on all vehicles from a desktop or mobile device.
The company said key MUVIT advantages for sellers include:
- PAVE inspects and loads vehicles in minutes, creating a seamless process and saving time with the industry’s first automated damage detection;
- More visibility and control over sellers’ inventory at Manheim locations from a desktop or mobile device;
- Flexibility to offer sellers’ vehicles in multiple digital channels to target the “right” buyers, allowing product to achieve the highest value;
- Sellers can access all of Manheim’s ancillary end-to-end remarketing services;
- Support from a trade desk sales team, dedicated to negotiating offers received on all sellers’ vehicles, whether listed online or in-lane across Canada.
For more information or to register: visit muvitcanada.com.
