BMW Financial Services Partners with Manheim on the Brand’s First-Ever Simulcast Everywhere Sale
Woodcliff Lake, N.J. -- BMW Financial Services recently partnered with Manheim to host the automaker’s first Simulcast Everywhere Sale. 70 BMW Franchised buyers entered more than 3,000 total bids in this first-of-its-kind sale format, designed to allow BMW Financial Services to sell vehicles directly from any location. The sales event, featuring vehicles from Manheim’s North Jersey Distribution Center, Manheim Ohio and Manheim Greer, took place at Manheim Ohio, on June 25. BMW Financial Services sold 84 percent of the vehicles offered.
“BMW Financial Services has partnered with Manheim on many other products before because Manheim routinely introduces revolutionary technology to the industry,” said Rich Perkowski, regional auction operations manager for BMW Group Financial Services. “Our first Simulcast Everywhere Sale attracted BMW Franchise buyers from a national perspective and BMW Financial Services was satisfied with the sales volume. Simulcast Everywhere definitely marks a new era in automotive remarketing, and we are looking forward to future successful sales.”
Last year, BMW Financial Services and Manheim partnered on a new iPad technology that provides BMW Financial Services with data and real-time selling analysis, delivering valuable sales data from Manheim locations across the entire country to reps’ fingertips. The technology also allows BMW Financial Services to reposition inventory based on the market strength.
“Technological innovations such as Simulcast Everywhere drive us to continually develop solutions that make it easier for our customers to do business with Manheim,” said Nick Peluso, senior vice president, customer management, Manheim. “It’s wonderful to have such successful sales results with BMW Financial Services on their first-ever Simulcast Everywhere sale.”
Simulcast Everywhere enables BMW Financial Services to sell vehicles directly from their facilities through an entirely virtual sale process, eliminating the need to physically transport vehicles to an auction location for sale. As a result, Simulcast Everywhere gives buyers access to a nationwide pool of available sellers while reducing transportation and logistics costs.
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.