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    Stock Market News: Volatility Up 14% As Markets Fall

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Home Personal Finance

Manheim keeps auctions alive but with more restrictions

Trade News by Trade News
March 23, 2020
in Personal Finance
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Cox Automotive’s Manheim on Monday announced further restrictions on its auctions, as the coronavirus pandemic continues to force dealerships and other businesses to close.

Effective Tuesday, sellers will not be allowed to represent vehicles at auction locations. Instead, all selling will need to be done with Manheim’s remote-selling tool, the company said.

Auction lots will be closed to buyers and sellers. Vehicle pickup and drop-off will be the only activity allowed at the sites.

Multiple locations have scaled back to minimal and to what Manheim is calling “essential” operations because of local, state and national directives. States such as California, New York, Michigan and others have implemented strict measures that force nonessential businesses to keep their workers at home to prevent further spread of the virus known as COVID-19.

Early last week, Manheim and KAR Global’s ADESA both announced they would be switching to digital-only auctions amid the outbreak, although…



Source Autonews.com

Tags: aliveauctionsManheimrestrictions
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