NADA Partners with Ove.com to Wholesale Vehicles
MCLEAN, Va. (Feb. 10, 2008) - The National Automobile Dealers Association (NADA) 20 Group announced today it has formed an exclusive partnership with OVE.com, Manheim's 24/7 online wholesale vehicle marketplace with the largest selection of inventory in the industry.
Under this new partnership, NADA 20 Group members will have the opportunity to join a password-protected seller group on OVE.com to buy and sell used vehicles with other participating NADA 20 Group members. This arrangement provides NADA 20 Group dealers with access to inventory nationwide among a group of trusted NADA 20 Group dealers, in addition to the larger market of all OVE.com users.
“The Internet is an ideal tool for dealers to wholesale and search for inventory,” said David Penske, NADA dealership operations chairman. “This new partnership provides a trusted online remarketing environment for NADA 20 Group members.”
In addition, NADA 20 Group members will be invited to act as a national seller group on OVE.com to wholesale inventory at future 20 Group “event sales.” OVE.com will also partner with NADA on its education efforts to incorporate The Wholesale Institute (TWI) into NADA's 20 Group education program.
TWI, which is powered by OVE.com and Manheim, is a traveling workshop designed to assist dealers to develop “Best Practices” for managing used vehicle inventory and to help dealers create step-by-step procedures for buying and selling wholesale inventory online. Mini informational sessions featuring TWI content will be offered to NADA 20 Group members in the Manheim booth at the NADA Convention & Exposition in San Francisco, Feb. 9-12.
“This exclusive partnership allows dealers to leverage their NADA 20 Group membership in a way that helps them buy and sell wholesale vehicles online, confidently and profitably,” said Jim McKnight, Manheim's president of Online Solutions. “It's all about providing a secure and simple way for this elite group of dealers to source the inventory they need and get more eyeballs on their wholesale inventory, which is all supported by the personal attention and customer service for which OVE.com is known.”
Other OVE.com benefits for NADA 20 Group dealers will be offered under terms of the agreement. OVE.com is offering transportation assistance up to $100 on all OVE.com NADA 20 Group member purchases through June 30, 2008.
About the NADA 20 Group Program
NADA 20 Group meetings offer dealers, general managers, and departmental managers the opportunity to meet three times per year with other non-competing dealerships of the same franchise and similar size, to analyze each other's operations and to provide best practices to each other. In each NADA 20 Group meeting, a NADA consultant will facilitate conversations between the non-competing dealerships. The NADA 20 Group program currently has more than 150 different groups, representing dealers of all sizes and most franchises. For more information, visit www.nada20group.org.
OVE.com is Manheim's 24/7 online wholesale vehicle marketplace with the largest selection of inventory in the industry. OVE.com provides buyers and sellers with a secure environment in which to conduct business 24 hours a day, seven days a week. The site gives sellers the ability to remarket vehicles earlier in the remarketing cycle - and throughout the cycle - while buyers are able to see, compare and purchase vehicles without leaving their dealerships. Manheim, is a wholly owned subsidiary of Atlanta-based Cox Enterprises and the world's leading provider of automotive remarketing services. For more information, visit www.manheim.com.
About The Wholesale Institute (TWI)
The Wholesale Institute (TWI), powered by Manheim and OVE.com, is a free, traveling workshop designed to assist a dealership in developing “Best Practices” for managing its used vehicle inventory. The workshop helps both independent and franchised dealers create step-by-step procedures for buying inventory online. The course also helps dealers eliminate the fear associated with using today's technology. A TWI workshop could be coming to a city near you. More details and the latest course schedule can always be found at www.thewholesaleinstitute.com.