Operational Update August 2024 | Wheels
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Operational Update August 2024 

Registration 

Illinois Campus: 

  • We completed 92% of the planned renewals before expiration. The largest opportunity for us here is completing the vehicle requirements in a timely manner to enable Wheels to complete the renewal before expiration.   
  • In July, 5.1% / 1,005 vehicles expired due to missing requirements. 

Georgia Campus: 

  • We completed 93% of renewals prior to expiration.  
  • An addition 6% / 928 vehicles expired due to missing or late requirements. We continue to encourage drivers to notify the registration teams via the mobile app when requirements have been completed to initiate the renewals process as soon as possible. 

Acquisitions 

Illinois Campus: 

  • Our Delivery Status team is focused on the oldest outliers (defined by vehicles at dealers > 30 days). In July, the team was able to reduce the total number of vehicles at the dealer at the end of the month and the number of dealers aging over 30 days.   
  • This month we created new reporting, allowing us to break down the aging units into categories based on what actions need to be taken on the units pending delivery. 
  • Our Out-of-Stock team managed 1047 requests in July and averaged 2.8 days to locate vehicles for our clients. We are seeing cycle times around 20 days end-to-end process to secure a vehicle from a dealer.  

Georgia Campus: 

  • Our Delivery Status team is focused on the oldest outliers (defined by vehicles at dealers > 30 days). In July the number of vehicles at dealerships increased by 11%, while the number of vehicles aging over 30 days at the dealer decreased by 6%. The team is actively working to resolve the most aging deliveries. 
  • The Out-of-Stock team managed 862 requests in July and averaged 4 days to locate vehicles for our clients. We continue to see cycle times around 9 days end-to end process to secure a vehicle from a dealer.   
  • Dealer inventory continues to improve year-over-year. We are seeing more aggressive retail pricing / incentives. The Hybrid vehicles continue to be more challenging to acquire.    

Maintenance 

Illinois Campus: In July, the Illinois Maintenance Contact Center improved the average speed of answer by 36 seconds and finished the month at 159 seconds.  Vendor education and assistance with the transition to MAP 2.0 aided in the improvement. Additional resources are being allocated to expedite vendor support. 

Georgia Campus: In July, the Georgia Maintenance Contact Center finished the month with an average speed of answer of 147 seconds, as load balancing between centers helped normalize caller’s experience.   

Remarketing  

  • July finished above June’s 100.9% of the market at 101.4%.  We are trending above 2023 results by 1% and seeing the late summer market increase. Most increases were seen in the 3+ older model years. The wholesale seasonality is steadily returning to pre-pandemic markets trends.   
  • Per Manheim – Three-year-old index appreciation slowed again, moving up 0.1% to 97.8%. Non-luxury increased to 0.3% and luxury to 0.1%.
  • July days to sell at auction was 28.4% days down from June’s 29.2%.  

Driver Care Call Center 

Illinois Campus: In July, the Illinois team’s average speed of answer improved by 23 seconds, finishing within 10 seconds of our 30 second goal. We continue to see longer than normal wait times on Mondays (especially the first Monday of the month) and are working to improve these days via overtime, creative new schedules and adding new team members to the organization. We are on track to hit our 30 second goal in August. 

Georgia Campus: In July, the Alpharetta Driver Contact Center fully migrated to our new telephony platform Five9. The transition took place in mid-July and was a complete success. The Alpharetta Contact Center immediately saw improved call handling and speed of answer with this new and improved system. First Contact Resolution remains over 80.0% with 98.0% of all owned cases being resolved within 24 hours. 

Request Management / Responsiveness  

  • 80% of 90,318 requests met the original Estimated Completion Date for requests 
  • 8.5 business days was the average cycle time to close a request across all cases 
  • 64% of cases that get closed in 2 business days per month 
  • 70% of cases that get closed in 4 business days per month 
  • 8% of cases that get closed >30 business days per month