automotiveMastermind Enhances Market EyeQ Sales Platform With Pre-Owned and Manheim Market Report Integration
automotiveMastermind, part of IHS Markit (NYSE: INFO), announced the integration of pre-owned vehicle functionality with the Manheim Market Report (MMR) into its Market EyeQ platform. This enhancement aims to improve sales opportunities by offering accurate valuations from MMR, which relies on statistical analysis of wholesale vehicle transactions. The update is timely, addressing challenges dealers face due to COVID-19. The enhancements empower dealers to better match consumers with relevant offers, especially as pre-owned vehicle sales exceed expectations amid new vehicle inventory shortages.
- Integration of MMR enhances accuracy in vehicle valuations, supporting dealer confidence.
- Market EyeQ's predictive marketing campaigns improve sales opportunities for pre-owned vehicles.
- Addresses inventory challenges caused by COVID-19, promoting efficient sales.
- None.
NEW YORK, Aug. 26, 2020 /PRNewswire/ -- automotiveMastermind®, part of IHS Markit (NYSE: INFO) and a leading provider of predictive analytics and marketing automation solutions for dealerships and manufacturers, today announced the integration of pre-owned vehicle functionality with the Manheim Market Report (MMR) wholesale vehicle values within its Market EyeQ sales platform.
Market EyeQ's pre-owned functionality allows dealers to unlock additional sales opportunities by matching customers of pre-owned vehicles with relevant offers through the platform's behavior-based predictive marketing campaigns. With the update, dealer partners can map their new and pre-owned vehicle inventories to prospective car buyers, which Market EyeQ identifies for dealers from the same platform, improving the accuracy of their marketing outreach to help them sell vehicles more efficiently.
With dealers across the U.S. experiencing new and used vehicle inventory challenges due to production and sales disruptions from COVID-19 impacts, having accurate vehicle valuations greatly simplifies the trade-in process. Including MMR as a valuation option can give dealers greater confidence in knowing the value of potential trade-in vehicles, since MMR values are derived from a non-editorialized, statistical analysis of in-lane and digital wholesale vehicle transactions.
These Market EyeQ platform enhancements come at the same time as sales of pre-owned vehicles surpass pre-virus forecasts and as many dealers cope with new vehicle inventory shortages. Combined, the product updates empower dealers to both meet changing consumer demands and maximize their inventory.
"Everything we do at Mastermind is built on a strong foundation of accurate, expansive data," said Mastermind Co-Founder and CEO Marco Schnabl. "The additions of the pre-owned functionality and MMR utilization to our Market EyeQ platform are not only timely and relevant to the current market conditions, but more importantly, they empower our dealer partners to effectively match consumers with the most relevant pre-owned vehicle offers based on accurate vehicle valuations. Mastermind is committed to fast-tracking the innovation of our product by building on our strong base of the highest quality data to help dealers create lasting relationships with customers and ultimately sell more cars."
"Providing the industry's most trusted wholesale vehicle values to the market is a top priority for Manheim," said Zach Hallowell, vice president, Manheim Digital Marketplace. "MMR is the gold standard valuation tool used by tens of thousands of consignors and dealers to assess millions of trade-ins each month. Accurate valuations are especially critical during times of market uncertainty like now. MMR is intentionally designed to be highly stable and avoid over-reacting to short-term market ups and downs and can be used with confidence regardless of market conditions."
About automotiveMastermind
Founded in 2012, automotiveMastermind, part of IHS Markit (NYSE: INFO), is a leading provider of predictive analytics and marketing automation solutions for the automotive industry. Market EyeQ by Mastermind is the single sales platform to identify, communicate with and close every buyer in a local market. Mastermind is headquartered in New York City and San Francisco. For more information, visit automotivemastermind.com. Based in London, IHS Markit is a world leader in critical information, analytics and solutions.
About Manheim
Manheim, the nation's leading provider of end-to-end wholesale vehicle solutions, is celebrating 75 years as an industry innovator, driving success for clients, the company, its employees and the industry. The dream of five men who auctioned off a handful of cars in 1945 from a single-lane location in Manheim, Pennsylvania launched a company that today offers 7 million used vehicles annually and facilitates transactions representing nearly
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SOURCE automotiveMastermind
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