Cox Automotive and Porsche Cars North America have entered an agreement under which PCNA will use Actuos — the portfolio management solution for Cox Automotive’s RMS Automotive — for off-lease vehicle management and decision-making.
Under the deal, Porsche will use the Actuos Vehicle Return and Actuos Vehicle Remarketing modules.
These are designed to help the company manage off-lease vehicle pricing, listings and grounding, and facilitate multiple sales transactions via the new digital sales platform. The tools also give PCNA broader reporting and visibility of its entire vehicle portfolio.
“The partnership with RMS Automotive allows us to take our upstream program to the next level,” said Jim Kuna, PCNA’s manager of vehicle remarketing. “Providing us with access to the entire lifecycle of our vehicle portfolio will enable us to make better decisions in the future.
“We will be better equipped to channel the right vehicles to the right dealers at the right time. This will not only help us, but will be of great benefit to our dealers.”
RMS is the first globally structured company from Cox Automotive, operating in 20 countries in continental Europe plus the U.K. Its deal with PNCA is its first U.S. development. But it likely will not be the last, says RMS president Nick Peluso. This move may just be the tip of the iceberg in the United States.
“Right now, we're willing to focus wherever there's a willing customer,” Peluso told Auto Remarketing in an interview Friday.
Going back to its deal with Porsche, Actuos Vehicle Return is designed to simplify the transfer of vehicle possession from lessee to lessor at turn-in time via such features as grounding tools, vehicle condition capture and customer or dealer purchase options. Meanwhile, Actuos Vehicle Remarketing offers a "single-tool direction of the wholesale vehicle disposition process in all channels with end-to-end workflow," the company said.
“Porsche and Cox Automotive enjoy a strong partnership and are committed to finding innovative solutions that drive more informed decision-making and further growth,” Peluso said in the news release. “With anticipated growth over the next two years in off-lease volumes, this solution will help Porsche better facilitate upstream units, while generating greater business efficiencies.”