Situation: BMW Group Financial Services partnered with RMS Automotive to develop an online platform to offer BMW Franchise partners exclusive access to company car and off-lease inventory before it was offered to the wholesale buying community. The goal of BMWFS was to make sourcing BMW Group inventory convenient, accessible, and easy-to-use.
Approach: RMS Automotive developed BMW Group Direct – an online platform offering national inventory and convenient daily sales. RMS Automotive also incorporated RMS ‘Pricing Optimization’ functionality that automatically prices the vehicles on BMW Group Direct based on a variety of factors. BMW Group Direct offers factory VIN decoding, meaning dealers can search packages and options based on original build information from the plant. With its responsive design and easy-to-use search functions, dealers can also set up saved searches and alerts to advise them when specific inventory becomes available. Additionally, the platform means dealers no longer have to reserve time to attend simulcast online auctions at set times or attend on-site live auctions, saving them both time and money.
Results: More than 450 BMW and MINI franchise dealers as well as 50 VIP independent dealers and wholesale buyers have sourced, bid on and purchased vehicles through the site since it launched in June 2015. More than 9,000 vehicles have been purchased from BMW Group Direct since January 2016, and BMWFS has benefited from a YTD average return of approximately 102% of MMR for sold vehicles.