Operational Update November 2024  | Wheels
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Operational Update November 2024  

Registration  

On the Registration front, we are 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%. While it will take some time to get these additional resources hired and trained, these resources will enable a more responsive and proactive Registration team.  

Illinois Campus: 

  • We completed 89% 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 October 7% of the vehicles expired due to missing requirements. 

Georgia Campus: 

  • We completed 90.9% of renewals prior to expiration.    
  • An additional 8% 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. We have recently added support to the delivery follow-up team. In the month of October, we experienced an 18% 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 10%.   
  • Our Out-of-Stock team managed 1359 requests in October and averaged 1.6 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 October, we experienced a 17% 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 14%.  
  • Our Out-of-Stock team managed 645 requests in October and averaged 2.2 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 October the maintenance teams in Illinois and Georgia successfully merged organizational reporting structures to operate as a unified entity. This along with the systems integration earlier in the year, has streamlined operations and enhanced coordination to improve service levels. As a result, we’ll be reporting combined performance for Illinois and Georgia contact centers moving forward.  

Since the change, we’ve seen steady improvement in Average Speed of Answer from 214 seconds early in the month to 158 seconds the final week of October. We expect improvements to continue and to reach our KPI of 120 seconds in the near future.    

Remarketing  

Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) were lower in October compared to September at 1.9%.  The Manheim Used Vehicle Value Index (MUVVI) fell to 202.8, a decline of 3.2% compared to last year.     

  

  

  

Average days to sell for October was 26.3, down 2.1 days year over year. And overall average days to secure was 8 days, up 1.3 days year over year.    

Driver Call Center 

Wheels Driver Services maintained its positive momentum in October, achieving Service Level targets for the third consecutive month. The Driver Contact Center successfully answered 80% of calls within 30 seconds, with an overall average wait time of just 34 seconds; representing a 20.0% reduction in caller wait times compared to the previous year.  

The call center continues to experience significant improvements in efficiency, including reduced call-handling times. First Contact Resolution remains high and a top priority as we consistently deliver strong results for our drivers.  

Request Management / Responsiveness 

  • 82% of 109,738 requests met the original Estimated Completion Date for requests.
  • 6.8 business days was the average cycle time to close a request across all cases.
  • 67% of cases that get closed in 2 business days per month
  • 74% of cases that get closed in 4 business days per month
  • 6% of cases that get closed >30 business days per month