“Our partnership with vAuto is another example of how RMS Automotive leverages its connectivity to other Cox Automotive brands to drive more informed decision-making for our clients,” said Nick Peluso, president, RMS Automotive.
ATLANTA, July 18, 2017 – To further enhance transaction speed, RMS Automotive and vAuto are making the evaluation and acquisition of manufacturers’ premium off-lease and off-program vehicles more convenient for dealers. The partnership integrates open sale inventory listed on manufacturers’ digital sales platforms powered by RMS Automotive into vAuto’s Stockwave tool. This enables dealers to save time sourcing high-quality used vehicles and manufacturers to greatly increase exposure of their inventory to Stockwave’s growing buyer base.
“Our partnership with vAuto is another example of how RMS Automotive leverages its connectivity to other Cox Automotive brands to drive more informed decision-making for our clients,” said Nick Peluso, president, RMS Automotive. “This initiative provides dealers unequalled access to pre-auction inventory and helps manufacturers accelerate transactions by channeling the right vehicles to the right dealers at the right time.”
Having opened its online remarketing channel to all dealers last summer, BMW Financial Services NA, LLC is among the first commercial consignors to incorporate their wholesale inventory into Stockwave. For Stockwave dealers, the integration means they can view pre-auction inventory found on BMWGroupDirect.com in customized search streams that allow them to rank vehicles or vehicle types by cost, availability and other factors to aid in their purchase decisions. It also helps BMW Financial Services better manage the buying experience through its branded marketplace by leveraging Stockwave’s broad dealer audience.
“The collaboration with RMS Automotive is part of the Stockwave promise – that we make the task of acquiring wholesale inventory more efficient and profitable for dealers,” says Randy Kobat, senior vice president of Inventory Software Solutions for Cox Automotive’s Retail Solutions Group. “The first step, of course, is having all wholesale inventory in one place. Our partnership with RMS Automotive brings us another step closer to this important goal.”
Mike Bashara, general manager for the independent Autos of Dallas dealership, says he purchases 20 to 30 vehicles from the BMW Group Direct sale every week. Previously he would scan presale lists looking for specific vehicles, however with the Stockwave integration, those cars now appear automatically in his personalized wholesale inventory search stream.
“With BMW Group Direct inventory listed in Stockwave, I don’t spend as much time looking for the cars I want to buy,” Bashara says. “They’re conveniently right at my fingertips, which helps me be a more cost-efficient buyer.”
Stockwave’s inventory stream includes nearly 300,000 auction vehicles through deep, direct integrations with leading auctions across the country. The Stockwave team is also working to integrate wholesale inventory from other OEM-related sources.
About RMS Automotive
Transacting vehicles in multiple countries and growing, RMS Automotive, a Cox Automotive Brand, delivers a global enterprise software solution that enables its commercial clients to manage their portfolios across the complete vehicle lifecycle – from new car build to used car sale. Through automation and data science, RMS Automotive provides VIN-specific recommendations for accurate vehicle pricing as well as optimal reconditioning and inventory distribution. These services deliver real-time integration with a client’s platform, faster remarketing time, reduced depreciation/cost of capital, improved residuals and reduction in wholesale losses. For more information about RMS Automotive, visit www.rmsautomotive.com.
vAuto® provides innovative technology, tools and business intelligence to thousands of dealerships across the United States and Canada, helping them compete more effectively and increase new/used vehicle sales volumes and profits. Founded in 2005, vAuto revolutionized dealers’ used vehicle operations with the groundbreaking Provision® suite of tools. Leveraging The Velocity Method of Management®, pioneered by vAuto’s visionary founder, Dale Pollak, the Provision suite guides used vehicle acquisition, appraisals, pricing, merchandising and more based on real-time, local market supply-and-demand data. In 2014, vAuto combined the Velocity method with the power of incentive management to create the Conquest™ new vehicle inventory management and pricing tool. In 2016, vAuto launched Stockwave to serve as the foundation for a suite of wholesale inventory acquisition solutions. Headquartered near Chicago, Illinois, vAuto is a Cox Automotive™ brand.
About Cox Automotive
Cox Automotive Inc. is transforming the way the world buys, sells and owns cars with industry-leading digital marketing, financial, retail and wholesale solutions for consumers, dealers, manufacturers and the overall automotive ecosystem worldwide. Committed to open choice and dedicated to strong partnerships, the Cox Automotive family includes Autotrader®, Dealer.com®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital®, vAuto®, Xtime® and a host of other brands. The global company has 34,000 team members in more than 200 locations and is partner to more than 40,000 auto dealers, as well as most major automobile manufacturers, while engaging U.S. consumer car buyers with the most recognized media brands in the industry. Cox Automotive is a subsidiary of Cox Enterprises Inc., an Atlanta-based company with revenues exceeding $20 billion and approximately 60,000 employees. Cox Enterprises’ other major operating subsidiaries include Cox Communications and Cox Media Group. For more information about Cox Automotive, visit www.coxautoinc.com.
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