“We appreciate the strategic partnership relationship between Cox Automotive and BMW China,” said Choi Ne-Hyun, head of Business Steering & Used Car Development for BMW Brilliance Automotive Ltd. “With the successful pilot in March 2018, the remarketing system helps to improve both transparency and efficiency. We look forward to further cooperation with Cox in the future.”
ATLANTA – RMS Automotive, a Cox Automotive brand, launched the first phase of an efficient, world-class remarketing system built to drive sales velocity for BMW China and its 400‑plus CPO program authorized dealerships. Part of a three-phase deployment, the initial solution comprises the RMS Automotive transactional platform fully localized for the Chinese market with in-market operational support from China-based Cox Automotive brands Jingzhengu – for inspections and pricing – and AutoStreets – for physical open market auctions and vehicle logistics.
“We appreciate the strategic partnership relationship between Cox Automotive and BMW China,” said Choi Ne-Hyun, head of Business Steering & Used Car Development for BMW Brilliance Automotive Ltd. “With the successful pilot in March 2018, the remarketing system helps to improve both transparency and efficiency. We look forward to further cooperation with Cox in the future.”
This launch, including a successful pilot with over 160 contracted dealers, was delivered on time, against an aggressive timeline by RMS’ globally-distributed team with members in China, India, U.K. and U.S. The solution has exceeded client expectations.
“RMS Automotive has unparalleled experience in enabling portfolio owners throughout the world to drive improved remarketing performance, through process and system improvement,” said David Gaynoe, head of Sales and Marketing for RMS Automotive.
“We were able to capitalize on our industry expertise and our experience serving BMW from a global perspective,” added Zach Hallowell, vice president, Manheim Digital Marketplace and RMS Automotive. “Applying what we know from partnering with BMW in the U.K. and the U.S. enabled us to create a class-leading solution for BMW China.”
RMS Automotive believes in full vehicle transparency throughout the entire wholesale lifecycles and has engineered its systems to be flexible and configurable to meet each client’s unique needs.
Phase I – New Platform Provides Dealers an Online Auction, System Automation and Transparency
The newly-built BMW China remarketing management system provides benefits to both the BMW China remarketing team as well as the 400-plus CPO program authorized dealerships.
Benefits to BMW China
Benefits to BMW China dealers
Phase II and III – Enhancements Bring Multi-Channel, Auto-Pricing and Enhanced Vehicle Settlement Capabilities
In April 2018, Phase II of the BMW China remarketing management system will integrate online “no sales” seamlessly into physical auctions and will incorporate the automated pricing functionality. Phase II will also introduce BMW China off-lease portfolio vehicles into the remarketing management system. Phase III of the project is expected to launch in October and will incorporate post-sales payments and facilitation.
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, visitwww.rmsautomotive.com.
About Cox Automotive
Cox Automotive Inc. makes buying, selling and owning cars easier for everyone. The global company’s 34,000-plus team members and family of brands, including Autotrader®, Dealer.com®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital®, VinSolutions®, vAuto® and Xtime®, are passionate about helping millions of car shoppers, 40,000 auto dealer clients across 100+ countries and many others throughout the automotive industry thrive for generations to come.Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with revenues exceeding $20 billion. www.coxautoinc.com