Cox Automotive signs remarketing deal with Stellantis
Cox Automotive Europe has announced it has signed a landmark long-term remarketing deal with Stellantis.
The contract, which is Cox Automotive’s largest deal across all its European business to date, builds on a 12-year-long relationship and involves the development of an intelligent software solution that manages the buying and selling of Stellantis’ full used car portfolio in an all-new digital marketplace.
The new platform will provide Stellantis with exclusive information on how, where and at what price to remarket its stock, based on data from Cox Automotive’s European portfolio, combined with the knowledge and expertise of its parent in the United States.
James Weston, senior vice president of Stellantis pre-owned vehicle business unit, said: “The Stellantis pre-owned team is thrilled to collaborate with Cox Automotive Europe. Taking this significant step forward together, by creating a cutting-edge remarketing solution to grow our buyer base, buyer choice, and ultimately our combined performance.
“Spoticar Trade will be more than an innovative platform. Together, we will transform the used car market in Europe by offering a dynamic and class-leading borderless marketplace, with tailor-made services, optimised stock and price management.”
Transformational
Martin Forbes, president at Cox Automotive International, added: “This deal is truly transformational; not only to our business as our largest ever European contract, but to the industry.
“Once complete, this platform has the potential to fundamentally change the way European manufacturers, fleets and retailers remarket their stock. With our data and expertise, we’ll deliver the right buyer in the right place with the very best price for each vehicle. Although our current focus is to deliver outstanding results for Stellantis there is no doubt that our pan-European digital remarketing offering will be of interest to other manufacturers, fleets and retailers.”
