Besides the acquisition of Pacto São Paulo, Manheim is part of a commercial and technological partnership with Pacto North and Northeast and Leilomaster, which will see Manheim technology implemented into local businesses.

This will give them the same level of facilities as Manheim’s existing auction centre in Guarulhos and its newest auction in Ibaté.

Manheim will work with six additional auction centres as part of the partnership, in order to boost logistics and support networks in Brazil. Manaus, Belém, Fortaleza, Goiânia, Brasília and Salvador will be opened in during 2017.

Regional CEO Daniel Nunes Romero, who will head up the new venture, said: “Brazil is one of the only countries with a particular regulation in the auction sector, but we are way below the USA and Europe on sales of used cars, with just 8% of them made through auction.

“This is due to a lack of information provided, and we are set to change that by combining our local expertise with Manheim technology.“

Romero has more than 14 years’ experience at Pacto North and Northeast.

He will work alongside Marcelo Valland, COO and official auctioneer of Manheim, who has more than 20 years’ experience in the industry.

Manheim is part of Cox Automotive, which also operates brands including Autotrader, Dealer.com, Dealertrack, Kelley Blue Book and NextGear Capital.

The global company has 34,000 employees in more than 200 locations.

Cox Automotive is a subsidiary of Cox Enterprises, an Atlanta, US-based company with revenues exceeding $20 billion and approximately 60,000 employees.