Operational Update December 2024 | Wheels
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Operational Update December 2024   

Registration  

We continue to focus on adding resources to better support the responsiveness needs of our clients. We are increasing the staffing of Initial Registration by more than 40% and the Renewals teams by 15%. So far in December, we have added 4 new team members and are targeting the end of January to be fully staffed.  

Illinois Campus: 

  • We completed 93.8% 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.    

Georgia Campus: 

  • We completed 90.7% of renewals prior to expiration.    
  • An additional 5.7% of vehicles expired due to missing or late requirements. We continue to encourage drivers to notify the registration team 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. The number of vehicles at dealers went up by almost 700 vehicles in the month of November. Subsequently, the number of aging vehicles also increased.   
  • Our Out-of-Stock team managed 912 requests in November and averaged 1.6 days to locate vehicles for our clients. We are seeing cycle times around 12 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. We have recently added support to the delivery follow-up team. In the month of November, we experienced an 9% reduction in the number of units aging at the dealer for more than 30 days. By comparison, the total number of vehicles at dealers, decreased by 12%.  
  • Our Out-of-Stock team managed 642 requests in November and averaged 2.1 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.    

Maintenance 

In November, Wheels Maintenance Call Center ended the month with an Average Speed of Answer (ASA) of 194 seconds. The increased volume around the holiday led to a slight rise in ASA during the week before and after the holiday. We have hired additional advisors who are currently in training and will soon be available to help achieve our ASA KPI of 120 seconds. Additionally, the recent team reorganization has clarified roles, improved accountability, and enhanced consistency.  

Remarketing  

The wholesale value exhibited some resilience at the beginning of the month. Though as Thanksgiving holidays approached, it experienced a decline over the last two weeks of the month. This pattern aligns with typical seasonal trends, where demand may fluctuate due to the season and supply chain adjustments. We are experiencing similar trends, where demands may fluctuate and the supply chain with used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) were higher in November vs. October. The Manheim Used Vehicle Value Index (MUVVI) rose to 205.4, an increase of 0.2% from a year ago.    

Wheels Remarketing average days to sell for November was 27.5 days, down 1.6 days year over year. And overall average days to secure were down .9 days compared to October’s 8 day average.  

Driver Services 

In November, Wheels Driver Services sustained its positive performance trajectory, achieving Service Level targets for the fourth consecutive month. The Driver Contact Center maintained a high standard of efficiency, answering 85% of calls within 30 seconds. The average wait time for callers was reduced to just 25 seconds, marking a 26.0% improvement compared to the same period last year.  

The contact center also demonstrated significant operational improvements, including a notable reduction in call-handling times. Additionally, the abandonment rate saw a remarkable improvement year-over-year, decreasing by 50.0% to a low 1.8%. These results reflect our commitment to continuous improvement and delivering exceptional service to our drivers.  

Request Management / Responsiveness 

  • 79% of 89,350 requests met the original Estimated Completion Date for requests. 
  • 7.4 business days was the average cycle time to close a request across all cases. 
  • 63% of cases that get closed in 2 business days per month 
  • 72% of cases that get closed in 4 business days per month 
  • 6% of cases that get closed >30 business days per month