Manheim, Toyota Financial Services Team Up to Launch Innovative Online Resource for Toyota and Lexus Dealers
Innovative Tool Combines Multiple Vehicle Inventory Sources Into One
ATLANTA, Oct. 12 /PRNewswire/ -- Manheim and Toyota Financial Services (TFS) today announced the launch of an integrated online remarketing resource designed to significantly improve how Toyota and Lexus dealers locate and purchase used Toyota and Lexus vehicles. This innovative, online product brings together multiple sales offerings -- including those from Manheim and other auction locations -- in one centralized location. "Building this product with TFS was meaningful because we both had just one goal in mind -- to improve dealers' profitability by giving them added choice, control and convenience," said Manheim vice president, national accounts, Peter Trench. "This innovative tool will immediately become a valuable resource for Toyota and Lexus dealers nationwide, and represents just one of the many collaborative efforts between Manheim and Toyota to deliver superior customer service." The "Toyota Financial Services Remarketing Portal" offers integrated online access to all Toyota, Lexus and Scion vehicles from available sales channels, including: * Online Vehicle Exchange (OVE) -- OVE - TFS: Includes off-lease, company, and rental inventory -- OVE - Buyer's Choice: Includes Toyota and Lexus dealer inventory * Manheim Simulcast -- Ability to participate online in live auction sales * Dealer Direct -- Upstream sales channel for off-lease vehicles prior to entering the auction environment * ADESA LiveBlock -- Ability to participate online in live auction sales * ADESA DealerBlock -- Auction-based off-lease, company and rental inventory "Maintaining the proper used vehicle inventory is more important than ever for dealers, and our goal in developing this remarketing resource with Manheim was to give Toyota and Lexus dealers a powerful tool to locate and purchase the vehicles they need, no matter the source," said Carl Scandura, TFS National Remarketing Manager. "Working together with Manheim, Toyota is committed to developing quality products that help our dealers become more profitable." Other features of the site include the Dealer Message Center, which allows TFS to communicate with all dealers in one convenient place, a listing of all TFS sales at Manheim and ADESA auction locations, and an up-to-the-minute promotions page with information on everything from special buy fees to transportation assistance. Dealers can also access Manheim Market Report to view the latest price information on vehicles, and can use the site's search function to view all TFS vehicles available from any combination of inventory sources. About Manheim Manheim is the world's leading provider of automotive remarketing services. Through its wholesale auctions and array of technology products, Manheim impacts every stage of a used vehicle's life cycle, helping commercial sellers and automobile dealers realize the full value of their vehicles. The company's auction services include reconditioning, certification, inspections, transport, title management and marshaling, among others. Manheim is also the leader in remarketing technology, using its online tools to connect buyers and sellers around the globe to the world's largest, most comprehensive wholesale automotive marketplace. In 2005, Manheim handled nearly 10 million used vehicles -- and sold more than 5 million -- representing more than $50 billion in value. Manheim's subsidiary companies provide value-added remarketing products and services, including paintless dent removal (Dent Wizard (R)), Auto Body Repair, and salvage vehicle remarketing (Total Resource Auctions). A wholly owned subsidiary of Cox Enterprises, Atlanta-based Manheim is a global organization with 32,000 employees at its 139 U.S. and international locations. For more information, visit www.manheim.com. About Toyota Financial Services TFS is the finance and insurance brand for Toyota in the United States. TFS retail auto financing and leasing services are offered through dealerships and Toyota Motor Credit Corporation (TMCC) and extended service contracts and other vehicle and payment protection products are offered through the dealer and Toyota Motor Insurance Services (TMIS). Lexus Financial Services and Scion Solutions are also featured brands under the TFS umbrella of products and services. Scion Solutions is an umbrella finance and insurance product name created in June 2003 to support the launch of Scion.
SOURCE Toyota Financial Services
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