Fiserv, Inc. (NASDAQ: FISV), the leading global provider of financial services technology solutions, today announced that Manheim Harrisonburg, an auction in Harrisonburg, Va., was named the top performing automobile auction of 2010 by Fiserv. Manheim Harrisonburg finished second in the Fiserv ranking from 2006 through 2009 and has consistently finished in the top three since Fiserv began the ranking 10 years ago.
In the automotive market, Fiserv provides solutions for lending, account servicing, loss and risk mitigation, lease maturity management and vehicle remarketing to banks, captive finance companies, specialty lenders and credit unions. As part of its outsourcing model for auto finance lenders, Fiserv partners with auction groups to remarket off-lease and repossessed vehicles. Fiserv managed the remarketing of 55,000 vehicles in 2010.
Fiserv began ranking auto auctions in 2001 as a way to aid lenders seeking the greatest potential return on their outsourcing investment. Fiserv scores auctions to identify qualified partners. Rankings are tabulated to reflect overall customer service, operational efficiencies, sale preparation and marketing with the main emphasis on sales retention.
“Manheim Harrisonburg’s commitment to excellence is clear,” said Megan Haley, director of remarketing strategies, Lending Solutions, Fiserv. “Since the inception of the ranking ten years ago, Manheim Harrisonburg has continually ranked among the top auto auctions in the country, proof of their continual dedication to serving their clients.”
The second place auction, Carolina Auto Auction of Anderson, S.C., also has a history of strong performance on the ranking, moving up from tying for third in the 2009 ranking, and placing first from 2005 through 2008. Manheim Metro Dallas Auto Auction of Grand Prairie, Texas, placed third on this year’s list, and has placed in the top five for the past four years.
Fiserv would also like to recognize the auctions by region that have achieved the highest levels of operational excellence in 2010:
• Northeast: Auto Auction of New England, Londonderry, N.H.
• Southeast: Manheim Tampa, Tampa, Fla.
• Central / Midwest: Manheim Louisville, Clarksville, Ind.
• Southwest: Manheim Metro Dallas, Grand Prairie, Texas
• West: Brasher’s Sacramento, Rio Linda, Calif.