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By 1947, the new building with four lanes to auction vehicles opened and soon the partners realized the general public was purchasing their vehicles at the auction instead of their dealership franchises. This action prompted the partners to make Manheim Auto Auction a dealer-only enterprise, making Manheim the largest auto exchange in 1959. [2]
Larry Hedrick (born December 12, 1940 - August 31, 2020) was an American businessman and former NASCAR team owner.. Born in North Carolina, in 1976, he formed Statesville Auto Auction, which became one of the largest and most profitable auto sales businesses until it was sold to Manheim Auctions in 1993.
In 1993, Manheim Auctions moved to full-time sponsorship, and Phil Parsons was hired to drive. Parsons finished 8th at North Carolina Motor Speedway, but was released in the final part of the year as Dick Trickle took his place, and had an outside-pole starting spot at the Slick 50 500, then followed it up with a fifth-place finish at Atlanta Motor Speedway.
Three years later, Manheim was purchased by Cox as well. In the 1980s, Manheim acquired its first non-U.S. auction in Toronto, Canada, making Cox an international company. In 1997, Autotrader.com was founded revolutionizing the way people buy and sell used cars. In 2014, Cox Enterprises brought its automotive-related businesses (which by then ...
During his retirement year in 1994, LJM began grooming his replacement, Robert Pressley, who ran three races for the team in the No. 54 sponsored by Manheim Auctions. His best finish was 31st. He moved to the No. 33 full-time in 1995, where he posted a tenth-place at Bristol, and finished runner-up to Ricky Craven for Rookie of the Year.
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