BMW Group Financial Services Partners with Manheim for Nationwide Distribution and Remarketing of Company Vehicles

100 percent of BMW of North America company vehicles to be sold via OVE.com and Manheim.com

Woodcliff Lake, NJ – February 5, 2010... BMW Group Financial Services has partnered with Manheim to distribute and remarket all company BMW and MINI vehicles originating out of BMW of North America’s Woodcliff Lake, N.J. headquarters.  Now, BMW and MINI dealers from across the U.S. will have the opportunity to bid on inventory from this single pool, affording customers unprecedented access to high quality used BMWs and MINIs.  All vehicles will be offered for sale via a closed OVE.com BMW seller group and through Manheim Simulcast online event sales, with transactions being handled by Manheim’s distribution center in Chestnut Ridge, N.Y.

"At BMW Group Financial Services, we are always looking for innovative ways to improve our service to our customers while improving our business processes at the same time,” said Randy Beil, General Manager Vehicle Sales, BMW Group Financial Services.  "This remarketing program resulted from our close working relationship with Manheim, and from our joint efforts to generate remarketing efficiencies while maintaining high-quality service and support.”

With the national reach of Manheim Simulcast and OVE.com, BMW Group will be able to immediately sell company vehicles turned in at any Manheim location, eliminating the time and expense associated with physically transporting the vehicles to other markets.  “The new vehicle turn process will allow buyers in regional markets where demand is greatest to purchase the vehicles they need.  It’s a win-win solution that leverages Manheim’s technologies while increasing our efficiencies,” added Beil.  “We look forward to expanding this program to our other facilities in North America later this year.”

“Manheim prides itself on offering online solutions that help customers like BMW Group increase efficiencies while saving time and money,” said Nick Peluso, Manheim’s Senior Vice President of Customer Management.  “We value the relationship we’ve built over the years with BMW Group and are honored to have been selected to facilitate this critical operation for them.” 

Among the activities and services taking place at the dedicated distribution center:
* BMW Group employees drop off their existing company vehicles and receive their new vehicles
* Pre-delivery inspection is performed on all vehicles delivered to BMW Group employees
* InSight Electronic Condition Report with AutoGrade is conducted on all vehicles
* Company vehicles being taken out of service are inspected, reconditioned, photographed and listed for sale via OVE.com or bid-sale to franchised BMW and MINI dealers
* Safety, warranty and software updates are conducted
Being selected to facilitate BMW Group’s company car process is the latest in a series of working initiatives between BMW Group and Manheim. 

About BMW Group Financial Services
BMW Group Financial Services was established in the U.S. in 1992 to support the sales and marketing efforts of BMW of North America.   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 $28 billion in serviced assets and 700,000 automotive lending customers, BMW Group Financial Services finances about half of the BMWs sold or leased in the United States.   BMW Group Financial Services employs nearly 1,000 people, including consultants and temporary workers, most of whom are located in the Hilliard, Ohio Customer Service Center.

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.

Information about BMW Group products is available to consumers via the Internet at:
www.bmwgroupna.com
www.bmwusa.com
www.bmwmotorradusa.com
www.miniusa.com
www.rolls-roycemotorcars.com

About Manheim (www.manheim.com)
Manheim is the world’s leading provider of vehicle remarketing services. Through its 130 worldwide wholesale operating locations, Manheim impacts every stage of a used vehicle’s life cycle, helping commercial sellers and automobile dealers maximize the full value of their vehicles.  Drawing from its auction transaction volume, Manheim Consulting publishes the annual Used Car Market Report, the definitive source of data for the used car industry.  Manheim Consulting offers a wide range of services including custom analytics, business optimization and macro economic analysis.

Manheim is the online vehicle remarketing leader, connecting buyers and sellers to the world’s largest, most comprehensive wholesale marketplace through its extensive in-lane and online offerings.  Manheim.com receives nearly 900,000 visitors each week. 

Additionally, Manheim offers services including reconditioning, certification, inspections, dealer financing, title management and marshaling, among others.  Through its wide array of services and technologies, industry publications, customer support and educational offerings, Manheim gives its customers maximum control over how they buy and sell vehicles, helping them to conduct business in the most efficient way possible.  In 2009, Manheim handled nearly 10 million used vehicles, facilitating transactions worth more than $50 billion in value. 

Headquartered in Atlanta, Georgia, Manheim is a subsidiary of Cox Enterprises, a leading communications, media and automotive services company.
 
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Journalist note: Information about the BMW Group and its products is available to journalists on-line at the BMW Group PressClub at the following address: www.press.bmwna.com.  Additional information, images and video may be found at www.bmwgroupusanews.com.  Broadcast quality video footage is available via The NewsMarket at www.thenewsmarket.com.

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