Operational Update September 2024 | Wheels
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Operational Update Sept. 2024 

Registration 

Illinois Campus: 

  • We completed 91% 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 August, 5.9% / 1,191 vehicles expired due to missing requirements. 

Georgia Campus: 

  • We completed 90% of renewals prior to expiration. 
  • An additional 8.6% / 968 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). In August, the team was able to reduce the total number of vehicles at dealer by 10%. The number of vehicles at the dealer > 30 days remained relatively flat. 
  • Our Out-of-Stock team managed 1,197 requests in August and averaged 2.2 days to locate vehicles for our clients. We are seeing cycle times around 15 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 August, the total number of vehicles at the dealers remained relatively flat. The number of vehicles at dealers > 30 days increased by 22%. The team is adding resources to focus on the aging outliers. 
  • Our Out-of-Stock team managed 1,100 requests in August and averaged 3 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: The Illinois Maintenance Contact Centers are now operating as one on the same MAP 2.0 systems. Due to the change, the average speed of answer in August increased by 54 seconds to 213. In the coming weeks we expect these synergies to continue improving both vendor and client responsiveness. 

Georgia Campus: The Georgia Maintenance Contact Center is also operating on the same MAP 2.0 system and the average speed of answer increased to 262 seconds in August. We expect improvements in the coming weeks as all contact centers operating on the same system allows more support among each other.    

Remarketing  

  • Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) were higher in August compared to July. The Manheim Used Vehicle Value Index (MUVVI) rose to 203.9, a decline of 3.9% from a year ago. The seasonal adjustment to the index mitigated the impact on the month, resulting in values that rose 1.2% month over month. The non-adjusted price in August increased by 2.2% compared to July, moving the unadjusted average price down 4.6% year over year.    
  • Per Manheim, the Used Vehicle Value Index remained at 98.9%. Meaning that market values remained below the index, however they are moving closer to the baseline of the index over last month. 

August days to sell were down at 25.3 days versus 28.4 in July.  

Driver Care Call Center 

Illinois Campus: In August, the Illinois Driver Contact Center continued to see increased call volume, however recent changes to improve service level have paid off.  Service levels increased to 82% of calls answered within 30 seconds while reducing the average wait time to just 29 seconds. We are dedicated to maintaining our service levels as we continue to deliver on our commitment of First Contact Resolution and achieving a 97% FCR for September. 

Georgia Campus: In August, the Alpharetta Driver Contact Center continued to see improvements in performance from our Five9 deployment. 81.0% of calls were answered in 30 seconds or less while the average wait time decreased to just 25 seconds. First Contact Resolution remains consistent with over 80.0% of driver requests being resolved within the call. 

Request Management / Responsiveness  

  • 82% of 94,447 requests met the original Estimated Completion Date for requests 
  • 7.8 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 
  • 7% of cases that get closed >30 business days per month