Philip Nothard 26 Posted May 31, 2018 How is the market performing? Used cars? New Cars? Margins? Supply? How would you describe both the opportunities and challenges currently facing you, with values heading into June slightly ahead of last year in the main but some pressures in the executive models? Below are a couple of links to our latest market reports: Manheim a vision for the future of remarketing https://www.slideshare.net/PhilipNothard/manheim-a-vision-for-the-future-of-remarketing Cox Automotive Market Overview - April 2018 https://www.slideshare.net/PhilipNothard/cox-automotive-market-overview-april-2018 Share this post Link to post Share on other sites
andymc1973 199 Posted May 31, 2018 I would be happy if Manheim ditched sure check, utter waste of money and it feels like we are forced into it 1 Share this post Link to post Share on other sites
sparky 274 Posted May 31, 2018 27 minutes ago, andymc1973 said: I would be happy if Manheim ditched sure check, utter waste of money and it feels like we are forced into it Whilst they are at it, could they change the website as well, it's shocking. 2 Share this post Link to post Share on other sites
Philip Nothard 26 Posted May 31, 2018 Interesting Andy - I would be interested to know and feedback to the relevant colleague why you think this? On another note, how is the market - trading good or bad in general?? Share this post Link to post Share on other sites
Nick M.K. 574 Posted May 31, 2018 11 minutes ago, Philip Nothard said: On another note, how is the market - trading good or bad in general?? Brisk trading with some buyer optimism finally creeping into the used car market after a dysmal 2017 with the uncertainties surrounding Brexit and Diesel engines slowly easing at the back of buyer's minds. I also think Used picked up because New slowed down after the April 2017 tax hikes. Recent surge in fuel prices will further underline the economy of modern diesel vs petrol engines. Market for Electric and hybrid vehicles is strong but EVs in particular are still very expensive and niche while the charging facilities remain limited. 1 Share this post Link to post Share on other sites
metcars 397 Posted May 31, 2018 1 hour ago, andymc1973 said: I would be happy if Manheim ditched sure check, utter waste of money and it feels like we are forced into it Agreed. A product that is meaningless in the real world Share this post Link to post Share on other sites
Stalker 180 Posted May 31, 2018 2 minutes ago, met said: Agreed. A product that is meaningless in the real world It was never designed to assist a "proper" trader. its only designed to put an arm around the useless traders / private customers, that don't know what a good/legal tyre looks like or if the engine sounds right etc... It was also designed to create additional income. 1 Share this post Link to post Share on other sites
Nick M.K. 574 Posted May 31, 2018 1 minute ago, Stalker said: It was also designed to create additional income. Bingo! Share this post Link to post Share on other sites
metcars 397 Posted May 31, 2018 1 minute ago, Stalker said: It was also designed to create additional income. We have a winner! The really clever part is as I said, it's meaningless. Trade is forced to buy, but cannot use it to 'add value' to a purchase Share this post Link to post Share on other sites
andymc1973 199 Posted May 31, 2018 I’m curious to the legalities of a forced insurance product Share this post Link to post Share on other sites
trade vet 704 Posted May 31, 2018 I think you will see main dealers in future running their own auctions of P/Xs and overage stock on their premises.When you see the high cost of buyers fees being factored in to final bids,if it was done properly,main dealers could be better off. 1 Share this post Link to post Share on other sites
metcars 397 Posted May 31, 2018 5 hours ago, trade vet said: I think you will see main dealers in future running their own auctions of P/Xs and overage stock on their premises.When you see the high cost of buyers fees being factored in to final bids,if it was done properly,main dealers could be better off. Back in the day, a lot of independent auctions started that way. Also a lot them are not around today! Share this post Link to post Share on other sites
BHM 994 Posted June 1, 2018 18 hours ago, Philip Nothard said: I would be interested to know and feedback to the relevant colleague why you think this? Feel free to feedback or ignore this. Manheim Surecheck. A waste of money to me and it’s a disgrace that we are forced to buy an unwanted insurance product. My main gripe with Surecheck is its poor coverage, quite frankly ‘silver’ is pitiful. Example - static check of gearbox. That check tells you sweet f.a. about a gearbox’s operation. I’d rather spend my money on an MOT. Apart from money, obviously, I believe its main objective is to separate any claims issues from the auction’s frontline staff & onto the Surecheck Helpdesk - of which the auction halls are full of tales being fobbed off. I could go on about Dealer Auction, Manheim’s sister company, turning into The Wild West with unchecked vendors doing as they please unpoliced despite Dealer Auction’s bold assurance that “You can be assured that all registered users of Dealer-Auction.com are vetted to ensure the highest standards of professionalism are maintained from both Franchised Main Dealers and Trade buyers”. Really? With regards to Dealer Auction’s assurances they need to recheck EVERY VAT no. of EVERY member & REMOVE members accordingly - too many have submitted false VAT no.s, some part-timers have dropped out of the VAT scheme and Dealer Auction have allowed vendors ‘extra’ buyers accounts for their employees who do a bit of trading on the side. Whilst I’ve got the bit between my teeth, the most basic of checks (i.e. occasional spot checking & reading the vendors’ adverts) would clearly highlight lazy vendors who cannot even be bothered to attempt an appraisal. Your representatives are not at all interested - any complaint is met with the attitude of ‘don’t bid if you don’t like the vendor’s appraisal’. Here’s just one fine example of an auction listing (I refuse to call this an appraisal) by one of the vetted professionals selling their wares via Dealer Auction; STRICTLY 72 HOURS PAYMENT AND COLLECTION UNLESS OTHERWISE AGREED. THIS FUNDS MUST BE CLEARED BEFORE THE VEHICLE IS RELEASED. PART EXCHANGE VEHICLES ARE NOT INSPECTED IN OUR WORKSHOP. KNOWN FAULTS WILL BE DECLARED BUT PLEASE ALLOW AN EXTRA £100 IN CASE OF OTHER ISSUES. ALL OUR CARS ARE GIVEN A VISUAL INSPECTION. PLEASE DO NOT BID IF YOU ARE UNABLE OR UNWILLING TO MEET THESE TERMS. THANK YOU WINNING BIDDER, PLEASE GIVE US 24HRS NOTICE OF INTENT TO COLLECT SO AS TO ENSURE THE VEHICLE WILL BE READY FOR A SWIFT DEPARTURE. COLLECTIONS BETWEEN MON –FRI 9AM – 5.30PM. PLEASE NOTE WE NOW HAVE TO CHARGE A DEBIT CARD FEE OF 0.5% OUR BANK DETAILS WILL BE EMAILED ALONG WITH THE INVOICE AS THERE IS NO FEE FOR BANK TRANSFERS. ONCE A CAR HAS BEEN WON, PAID FOR AND TAKEN FROM OUR PREMISES, WE DO NOT GIVE REFUNDS AS THIS IS A TRADE AUCTION. PLEASE SEE PHOTOGRAPHS FOR FULL APPRAISAL 2 Share this post Link to post Share on other sites
sparky 274 Posted June 1, 2018 Worms. Can. Of. You did ask Phil☺ Share this post Link to post Share on other sites
EPV 631 Posted June 1, 2018 17 hours ago, trade vet said: I think you will see main dealers in future running their own auctions of P/Xs and overage stock on their premises.When you see the high cost of buyers fees being factored in to final bids,if it was done properly,main dealers could be better off. There are already a few of those around, if you know where to look! In my relatively inexperienced view, because of a dip in new Car sales the franchises are hanging on to part ex’s and pcp returns that previously they would have no interest in and would either send off to the block or trade out to local traders. So anything half decent that comes in they are retailing themselves and any shite they don’t want they are pushing off to the block because they know if they did a proper description of these cars no fucker would buy them. So off to auction they go with a half arsed “assured” report on them to con people into thinking its problem free. Share this post Link to post Share on other sites
metcars 397 Posted June 1, 2018 2 hours ago, BHM said: STRICTLY 72 HOURS PAYMENT AND COLLECTION UNLESS OTHERWISE AGREED. THIS FUNDS MUST BE CLEARED BEFORE THE VEHICLE IS RELEASED. PART EXCHANGE VEHICLES ARE NOT INSPECTED IN OUR WORKSHOP. KNOWN FAULTS WILL BE DECLARED BUT PLEASE ALLOW AN EXTRA £100 IN CASE OF OTHER ISSUES. ALL OUR CARS ARE GIVEN A VISUAL INSPECTION. PLEASE DO NOT BID IF YOU ARE UNABLE OR UNWILLING TO MEET THESE TERMS. THANK YOU WINNING BIDDER, PLEASE GIVE US 24HRS NOTICE OF INTENT TO COLLECT SO AS TO ENSURE THE VEHICLE WILL BE READY FOR A SWIFT DEPARTURE. COLLECTIONS BETWEEN MON –FRI 9AM – 5.30PM. PLEASE NOTE WE NOW HAVE TO CHARGE A DEBIT CARD FEE OF 0.5% OUR BANK DETAILS WILL BE EMAILED ALONG WITH THE INVOICE AS THERE IS NO FEE FOR BANK TRANSFERS. ONCE A CAR HAS BEEN WON, PAID FOR AND TAKEN FROM OUR PREMISES, WE DO NOT GIVE REFUNDS AS THIS IS A TRADE AUCTION. PLEASE SEE PHOTOGRAPHS FOR FULL APPRAISAL So, basically the same as any other car auction. You buy it as you see it, just remove it as quickly as possible with full payment before hand? Share this post Link to post Share on other sites
trade vet 704 Posted June 1, 2018 What a ‘starpost’ from BHM......Mr Northard has walked straight in to that one.As head of ‘external affairs’ for Manheim ( great title ) ,I look forward to his reply.I see he is also a founder of IMDA,so I hope that means Manheim are funding them...Traders are fed up with these rediculous auction fees and charges,dealer groups are being squeezed,leasing companies are going to be hit with diesel and PCP residuals........something has got to give ! Share this post Link to post Share on other sites
RH Trading 80 Posted June 1, 2018 Hi Phil USED SALES - Just closed the month now and business is very brisk thankfully, sales volumes and profit up YoY, values holding strong, I use the control pricing tool and actually increased the price of 10 of the sold cars last month that were going into 60 days. They went within 72 hrs of repricing, for a total additional gross profit of £2280 across the 10. first time Ive known to have to reprice so many cars upwards and that's helped massively with maintaining margins. DEMAND - Showroom visits the same in terms of footfall but it just seems people were more ready to buy last month. Last bank holiday weekend very busy - I almost closed as I thought we'd never see anyone whilst the weather was so good. that's on the back of an OK April and good March. expecting it to start to tail off now as we get into the holiday season. June and July for us have typically been our slowest periods historically but the workshop is always busy thankfully and this keeps us ticking over when the sales side goes dead. SUPPLY - Started to buy more private stock now rather than go to physical auction as its got beyond a joke and needs sorting out. Dealer auction is like the wild west and very wary from buying from there as I've been stung a couple of times, exaggerated condition reports, non existant appraisals, dealers who aren't really dealers etc. and dealer auction know this full well and turn a blind out - please sort out Phil Bought 5 great, tidy low mileage, private cars end of April and they all went for very high margins, with probably less prep than I'd have needed to do if I'd bought from auctions, less headache and ZERO auction fees - Really think physical auctions need a massive overhaul, they're prehistoric, a closed shop and not good for my health at all. Manheim own wewantanycar don't they? that doesn't help Phil - sourcing stock is hard enough without you snapping up cars along with BCA and WBAC - anything you can do much appreciated - Motors is garbage so don't try and flog that dead horse - put it out of its misery Phil as head of extranal affiars can you tell us your plans to help us with sourcing? that's my biggest issue with Manheim. Surecheck was OK in the beginning but stopped using it due to poor coverage - I take it as you started the IMDA that dealers can get discounts across Manheim then? hope this helps Rob Share this post Link to post Share on other sites
Tom 164 Posted June 1, 2018 Where is this control pricing tool Rob? Share this post Link to post Share on other sites
EPV 631 Posted June 1, 2018 I assume he means I-control. Autotrader tool. Share this post Link to post Share on other sites
RH Trading 80 Posted June 1, 2018 yeah sorry, iControl, its very marmite, but it works for me as a guide, took me a while to get used to it, the retail check is very good, use religiously on every car. colleague of mine in a main dealer had it and cancelled it as it didn't work for him, saves me a hell of a lot of time and reduced overage enormously. didn't really look at old stock but realised I had about half my cars sat on my forecourt for 150 + days, managed to whittle it down gradually and now none over 60 which helps bottom line. just keeps me alert and saves time for me 1 Share this post Link to post Share on other sites
BHM 994 Posted June 1, 2018 8 hours ago, trade vet said: What a ‘starpost’ from BHM......Mr Northard has walked straight in to that one.As head of ‘external affairs’ for Manheim ( great title ) ,I look forward to his reply.I see he is also a founder of IMDA,so I hope that means Manheim are funding them...Traders are fed up with these rediculous auction fees and charges,dealer groups are being squeezed,leasing companies are going to be hit with diesel and PCP residuals........something has got to give ! The IMDA are a great idea and I wish them well but when I saw a Manheim employee involved I nearly choked. I wrote of my scepticism on this forum, which was removed within an hour or two and I subsequently received a warning. Anyhow it’s good to see a senior figure from Manheim interested in the trade’s opinions and I look forward to seeing what results from this fact finding mission, as I’m sure many of you on here will be. #PositiveThinking Share this post Link to post Share on other sites
Nick M.K. 574 Posted June 5, 2018 I don't know if it makes any difference but when the IMDA was formed Mr Nothard worked for CAP/HPI and it makes a lot of sense for someone other than a dealer to be a part of the founding member group. Share this post Link to post Share on other sites
Arfur Dealy 823 Posted June 5, 2018 7 hours ago, Nick M.K. said: I don't know if it makes any difference but when the IMDA was formed Mr Nothard worked for CAP/HPI and it makes a lot of sense for someone other than a dealer to be a part of the founding member group. Not sure if that’s true Nick. Manheim announcement was in September. Mr Northard would have been fully aware of his intentions many many months prior to the announcement. But.. there’s no point on splitting hairs. Too add. I have always wished and continue to wish the principle of the IMDA the very best of luck. Share this post Link to post Share on other sites
