BMW GROUP FINANCIAL SERVICES PARTERS WITH MANHEIM TO CREATE “REAL-TIME” IPAD REMARKETING TOOL

Woodcliff Lake, NJ – August 17, 2011 – With access to real-time data becoming more critical to remarketing customers, BMW Group Financial Services recently partnered with Manheim on the development of data solutions offered through the iPad.  This technology gives BMW Group Financial Services’ auction representatives instant availability to pricing data across any location before, during and after sales, providing convenience and efficiency.

BMW Group Financial Services has been working directly with Manheim since the mid-1990s and according to Shaun Bugbee, vice president of sales and marketing, the partnership has prospered even more as new technologies continue to emerge.  “We have successfully partnered with Manheim in so many ways,” said Bugbee.  “And now, when the digital model of an auction has become so prominent, Manheim has enhanced our ability to make more real time decisions on the auction block than ever before.” 

This particular iPad technology provides BMW Group Financial Services’ field re-marketers and their managers with data and real-time selling analysis which brings sales across the entire country to the reps’ fingertips.  It also allows the Group to reposition inventory based on the market strength.

The new remarketing effort began as a pilot program for BMW Group Financial Services earlier this year, and after several months of success the Group will now be rolling out the new application to its entire auction staff and representation.  Tim Sturm, general manager vehicle sales for BMW Group Financial Services, views the biggest strength of the new application in its ability to see real time market trends.  “Our representatives can now view all sales, at any time and any location to see what trends are at that moment,” said Sturm.  “The ability to read the market at any given point positions our remarketing efforts at a higher level, allowing us to maintain BMW’s world-class standards in all we do.”

Manheim’s Senior Vice President of Customer Management, Nick Peluso said, “It’s our priority to provide solutions that simplify detailed data such as vehicle and sales statistics.  By using the new application, auction reps and managers can stay interactive from the comfort of their offices while browsing Manheim auctions around the nation.”

Some key benefits include:

·         Real-time access to market conditions

·         Instant availability to Manheim Market Report (MMR) pricing data

·         Immediate access to view Manheim condition reports

·         Accurate information

·         National and regional market reports

·         Paperless operations

Peluso concluded, “We’re consistently looking at ways we can provide our customers with quick, accurate and more convenient access to conduct business, and BMW Group Financial Services is a leading-edge partner with which to work.”

About BMW Group Financial Services

BMW Group Financial Services was established in the U.S. in 1992 to support the sales and marketing of BMW products.   Since then, the Group has expanded to provide service to markets in multiple countries and continues to evolve beyond its role as a captive finance unit. 

BMW Group Financial Services offers a wide range of leasing, retail and commercial financing and banking products tailored to meet the needs of the BMW customer. The Group also provides financing to BMW dealers for expanding dealership capabilities and enhancing overall operations. With more than $34 billion in serviced assets and 1,000,000 automotive lending customers across the U.S. Canada and Mexico, BMW Group Financial Services finances almost three-quarters of the BMWs sold or leased in North America.   BMW Group Financial Services employs more than 800 people, including consultants and temporary workers, most of whom are located in the Hilliard, Ohio Regional Service Center which serves the U.S., Canada, and Mexico.

In 2001, the MINI Financial Services division was established to provide support for the brand’s dealer and customer networks by offering various financing and leasing options.    Alphera  Financial Services was established in 2006 to provide financial services to dealers who are not part of the BMW and MINI networks.

BMW Group Financial Services also offers credit card products through its subsidiary, the BMW Bank of North America.  up2drive.com is a division of BMW Bank of North America, a wholly-owned subsidiary of BMW Financial Services NA, LLC.  BMW Insurance Agency, Inc., a property and casualty producer, is also part of BMW Group Financial Services.