May 14th, 2019
Dealertrack Announces Partnership with BMW Group Financial Services Canada
Cox Automotive Canada secures BMW, MINI, Motorrad and Rolls-Royce brands through BMW Group Financial Services Canada onto the Dealertrack Credit Application Network
Mississauga, Ont.—May 14, 2019— Cox Automotive Canada and BMW Group Financial Services Canada have announced a new strategic alliance that will see the premium automotive brand join the Dealertrack portal as a new client. With the new partnership, BMW Group Retailers will also be the first to experience the new and enhanced Digital Contracting workflow.
This collaboration marries the broad expertise Dealertrack provides during the vehicle funding process to the strength of parent Cox Automotive. BMW Group Canada Retailers can now take full advantage of Dealertrack’s industry-leading network, seamless integrations and functionality to provide a streamlined buying experience for both the customer and the dealer facilitating the transaction.
“BMW Group Canada can rest assured that they are partnering with an organization that is committed to our industry and to supporting the growth of their business,” said Cox Automotive Canada President, Maria Soklis. “Cox Automotive, a subsidiary of 120-year-old Cox Enterprises, Inc., has through its brands, been serving the automotive industry since 1926. We continue to thrive because of the breadth of our product, depth of our experience, and because we measure our success through the success of our clients. Our technology is set to reinvent the way dealers operate in ways we’ve not seen before, that will help to keep them relevant and sustainable into the future, in particular as we move through a period of transformation.”
With access to the Dealertrack Lender Portal and the Digital Contracting capabilities, BMW Group Canada Retailers will enjoy a more streamlined end-to-end funding process. As data is pulled from a single source, all documents will be available prior to funding. Dealertrack delivers OEM aftermarket products, residualized accessories handling, rebates and incentives support, and comprehensive reports (such as credit validation before credit and contracting validation before funding).
More specifically, the partnership will also benefit BMW Group Canada Retailers with the availability of the following capabilities:
- An integrated partner network
- A mobile application for retailers and Lender Field Sales staff to track applications
- Existing Dealer Management System integrations
- VIN level vehicle validation to ensure consistency and accuracy
- The ability for the system to automatically track required documents; and
- Ensure Dealers are always in sync with the application, delivering 100% full transparency in the validation process
“Our greatest ambition is to make it easier for our Retailers to work with us,” said Carola Erlewein, President and CEO, BMW Group Financial Services Canada. “Harnessing Dealertrack helps us in that endeavor. With a more streamlined structure that houses our policies and guidelines under one roof, Dealertrack promises a smoother, more straightforward process. This in turn ensures greater security and compliance at every step of the way, making both the retailer and customer’s experience more positive.”
Dealertrack Canada is the leading provider of web-based software solutions and services for all major segments of the automotive, marine, recreational vehicle, motorcycle and powersport retail industries. Dealertrack Canada serves dealers, lenders, OEMs, third-party retailers, agents and aftermarket providers with its comprehensive set of solutions including Sales/F&I products; market data for dealers, lenders and OEMs; and digital document services. Dealertrack Canada is a subsidiary of Dealertrack, which is owned and operated by Cox Automotive Canada. For more information about Dealertrack Canada, visit dealertrackcanada.com
About Cox Automotive Canada
Cox Automotive is transforming the way the world buys, sells, and owns cars with industry-leading digital marketing, software, financial, wholesale and e-commerce solutions for consumers, dealers, manufacturers and the overall automotive ecosystem worldwide. In Canada, the Cox Automotive family includes Dealer.com®, Dealertrack®, Kelley Blue Book®, HomeNet®, Manheim®, NextGear Capital®, Ready Logistics®, RMS Automotive®, vAuto®, VinSolutions® and Xtime®, along with a host of other brands in other countries. The global company has 34,000 team members in more than 220 locations and is a partner to more than 50,000 auto dealers, as well as most major automobile manufacturers. Cox Automotive is a subsidiary of 120-year-old Cox Enterprises, Inc., which has revenues exceeding $20 billion and approximately 55,000 employees. Cox Enterprises’ other major operating subsidiaries include Cox Communications and Cox Media Group. For more information about Cox Automotive Canada, visit coxautoinc.ca.
For more information and media interview requests, please contact Eliana Cugini, Public Relations & Corporate Communications Manager, Cox Automotive Canada at Eliana.firstname.lastname@example.org