Situation: Across Europe, Volvo Car Corporation (VCC) had many legacy remarketing systems built from out-dated, overlapping software. Volvo looked to RMS Automotive to implement a global platform that would provide streamlined processes and cost efficiencies to VCC.
Approach: Cox Automotive designed and developed a strategy with Volvo Cars to provide a common international platform for inventory management and the wholesaling of used vehicles to its franchised dealers. The Cox Automotive solution also delivers a high-end experience for Volvo’s retail consumers, when searching for used models, under the Volvo Selekt programme in all of its key territories. While RMS Automotive has delivered the wholesale element of this end-to-end system, the retail solution has been developed by Cox Automotive’s leading German automotive marketing business, Modix. Throughout the Volvo & Cox Automotive partnership, additional enhancements and incremental evolution has been implemented to help stay at the leading edge of innovation; such as live video auctions, mobile device support, European international selling and enhanced reporting capabilities to name a few.
Results: After rollout in the first launch country, VCC was able to achieve a 2% increase in wholesale values per vehicle, compared to traditional remarketing channels. The solution has since been rolled out across ten countries in Europe (with seventeen countries to follow), significantly improving the used vehicle management controls, increasing vehicle residual values, managing risk within VCC internal fleets, and increasing visibility of all international markets used vehicle activity within one system.