Operational Update January 2025 | 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 and adding team members each week.  .  

Illinois Campus: 

  • We completed 88.7% of the planned renewals prior to expiration.  
  • 13% of total renewals were linked to a vehicle requirement, and 37% of these were met 45 days prior to renewal expiration.   
  • We also captured 87% of the plate data within 30 days.     

Georgia Campus: 

  • We completed 93.1% of renewals prior to expiration. 
  • 14% of total renewals were linked to a vehicle requirement, and the average days to requirements were met within 34 days.   

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 over 500 vehicles in the month of December. The number of aging vehicles increased by 700. December deliveries were challenging due to the holidays, and we expect to decrease the outliers in January.   
  • Our Out-of-Stock team managed 1277 requests in December and averaged 2.9 days to locate vehicles for our clients. We are seeing cycle times around 14 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 December, the total number of vehicles at dealers remained relatively flat. By comparison, the total number of vehicles at dealers, decreased by 10%.  
  • Our Out-of-Stock team managed 447 requests in December and averaged 2.9 days to locate vehicles for our clients. We continue to see cycle times around 8 days end-to-end process to secure a vehicle from a dealer.  

Maintenance 

In December, the Wheels Maintenance team achieved a significant improvement in Average Speed of Answer (ASA), reducing it by 24 seconds and ending the month at 170 seconds. The onboarding of November new hires played a pivotal role in this success. Their contribution helped the team meet our ASA Key Performance Indicator (KPI) of 120 seconds on 20 out of 31 days during the month. This progress reflects the positive impact of recent hiring efforts and ongoing operational enhancements.


Remarketing  

Wheels sold 126K used vehicles in 2024, a 19% increase over 2023, bringing 102% of market value for vehicles sold with a NAAA condition grade of 2.5 or better. Days to sell improved 5% vs 2023 at 27.9 days. As we continue to sharpen our processes in 2025, we are working on opportunities that will continue to improve our remarketing services. One key focus is in improving our auction transportation. We ended 2024 with an average of 7.5 days. This was an increase of 4% over 2023 and 5% better than our goal of 8 days. Personal sales processing has shown great improvement since May of 2024, now processing within 5 days of all paperwork received.   

EV Sales YOY -  1.3 Million sales for EV in 2024 shows a 6.8% increase YOY, while 288K used sold a 63% increase YOY  


Driver Services 

Wheels Driver Services continued its positive performance in December, achieving Service Level targets for the fifth consecutive month. The Driver Contact Center maintained a high standard of efficiency, answering 80% of calls within 30 seconds. The second half of 2024 had an overall service level improvement of 14.1% over the same period last year and provided a Service Level achievement of 81.0% for the period.   

The Contact Center also demonstrated significant operational improvements, including a continued reduction in call-handling times and an overall service level improvement of 8.4% for 2024.   .  


Request Management / Responsiveness 

  • 78% of 88,771 requests met the original Estimated Completion Date for requests. 
  • 8.8 business days was the average cycle time to close a request across all cases. 
  • 61% of cases that get closed in 2 business days per month 
  • 69% of cases that get closed in 4 business days per month 
  • 8% of cases that get closed >30 business days per month