Operational Update Oct. 2024 | Wheels
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Operational Update Oct. 2024 

Registration 

The peak season for renewals is in full swing. Over the next 90 days, the team will be managing >125K registration renewals for over 300 clients! Your partnership is appreciated – please review driver assignments. This will help Wheels to know we are communicating with the correct contact. Sign up for weekly progress reporting through the FleetView tiles to stay in front of vehicles pending requirements that could expire. 

Take advantage of using the Wheels Mobile Assistant to track the renewal process. The app will provide step-by-step process updates and notify you once the renewal has been completed and shipped. 

Illinois Campus: 

  • We completed 90% 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 September, 7% / 1,180 vehicles expired due to missing requirements. 

Georgia Campus: 

  • We completed 91.2% of renewals prior to expiration. In September, 18% of the renewals had a mandatory requirement needed to process the registration. 
  • An additional 7% / 827 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 renwals process as soon as possible. 

Acquisitions 

We are seeing ordering cycles trending back to pre-pandemic patterns and are currently experiencing an increase in orders as customers look to place MY2025 orders.   

Additionally, dealer inventory continues to improve year-over-year. We are seeing more aggressive retail pricing / incentives. Hybrid vehicles continue to be more challenging to acquire. 

Illinois Campus: 

  • Our Delivery Status team is focused on the oldest outliers, defined by vehicles at dealers > 30 days. In September we added support to the delivery follow-up team, resulting in a 28% reduction in the number of units aging at the dealer for mor than 30 days. By comparison, the total number of vehicles at dealers decreased by 15%.    
  • Our Out-of-Stock team managed 1,087 requests in September and averaged 2.1 days to locate vehicles for our clients. We are seeing cycle times around 19 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, resulting in a decrease of 17% in the number of vehicles at dealers. The number of vehicles at the dealer aging over 30 days has remained relatively flat.  
  • Our Out-of-Stock team managed 780 requests in September and averaged 2.6 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 

Illinois Campus: In September, the Illinois Maintenance Contact Center maintained the average speed of answer and finished the month at 220 seconds.  Additional Advisors were hired during the month and training will be completed this month. Additional resources were added to further improve answer speeds and service level.   

Georgia Campus: The Georgia Maintenance Contact Center also completed hiring additional Advisors and training has been completed. The average speed of answer improved by 43 seconds during September and finished the month at 219 seconds.      

Remarketing  

Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) were higher by .03% in the first 15 days of October compared to September. The Manheim Used Vehicle Value Index (MUVVI) increased to 203.5, down 2.8% from last year. The seasonal adjustment to the index lessened the impact on the month, resulting in values declining 1.7% compared to September and unadjusted prices were down 3.5% YOY.  

Per Manheim – The Used vehicle Value Index dropped to 98.1% meaning that market values remained below the index, however they are moving closer to the baseline of the index over last month. The MMR retention is down at .6 of a point compared to the year prior and a bit lower than the last two years. 

September days to sell was up at 26 days vs. 25.3 in August.

Driver Call Center 

In September, Wheels Driver Services maintained its’ positive momentum, achieving service level targets for the second consecutive month. The Driver Contact Center successfully answered 84% of calls within 30 seconds, with an overall average wait time of just 28 seconds—representing a 63.6% reduction in caller wait times compared to the previous year. 

The call center continues to experience significant improvements in efficiency, including reduced handle times, thanks to the deployment of the new Five9 telephony system earlier this year. First Contact Resolution remains a top priority as we consistently deliver strong results for our drivers. 

Request Management / Responsiveness 

  • 81% of 90,334 requests met the original Estimated Completion Date for requests 
  • 7.6 business days was the average cycle time to close a request across all cases 
  • 65% of cases that get closed in 2 business days per month 
  • 73% of cases that get closed in 4 business days per month 
  • 7% of cases that get closed >30 business days per month