Cox Automotive said its wholesale vehicle valuation tool, Manheim Market Report, now includes automatic adjustments for factory-installed options and packages. The enhancement is made possible through the integration of original equipment manufacturer build data with Cox’s extensive first-party transaction data and proprietary modeling—giving clients additional precision. Cox says MMR was used nearly 2.6 billion times in the past year to value vehicles.
“While MMR has undergone a major evolution in the last several years to become the living, market-responsive algorithm it is today, a tool as impactful and ubiquitous as this deserves continuous innovation,” said Cox Senior Vice President, Digital Inventory and Supply Chain Solutions Joe Kichler. “VIN-specific, automated build adjustments are a massive leap forward for clients, and we’re more confident than ever that MMR will give them the most accurate vehicle valuations available today.”
Go Deeper
For years, MMR values have been based on year-make-model-trim data, with additional manual adjustments available for mileage, region, condition and color. However, a vehicle’s specific options and packages can positively or negatively influence its value compared to the typical configuration. The key to easily bringing this to life for clients was in the automation—which Cox Automotive achieved through integrating in-depth OEM build data with the real-time data from millions of transactions already fueling the algorithm.
“When it comes to artificial intelligence, the quality of the inputs determines the accuracy of the results,” said Cox Chief Data Officer Ben Flusberg. “Clients can be confident knowing that MMR is refreshed daily, based on more first-party transactions than any other guidebook in the industry, and now includes high-quality OEM build data — not incomplete data based on partial VINs and website scraping. This is yet another example of how we’re harnessing the power of Cox Automotive’s trove of first-party data and relationships and putting it all to work for our clients.”
With the integration of OEM build data in place, approximately 85% of vehicles transacted across the Manheim Marketplace can now receive an automatic MMR adjustment based on their VIN-specific options and packages. The combination means that clients who rely on MMR can now benefit from even more precise vehicle values that account for high-value options, like heated seats and adaptive cruise control. The result is valuations with much greater accuracy, helping them make more informed decisions.
To learn more, visit this page.
