Kelley Blue Book Forms Joint Venture in China
Kelley Blue Book, a provider of new and used car information has announced a joint venture with Bitauto Holdings Limited, a provider of Internet content and marketing services for China's fast-growing automotive industry, and the China Automobile Dealers Association (CADA).
"Through our strategic partnership with Bitauto and the China Automobile Dealers Association, and in recognition of the rapidly growing, emerging China automotive market, Kelley Blue Book will leverage its 87-year history of trusted, vehicle values, and automotive expertise to provide vehicle valuation and pricing information to the China market," said Jared Rowe, president of Kelley Blue Book. "These values will help Chinese consumers feel confident they are making well informed decisions with values leveraging KBB.com's expertise in values and fair pricing."
The new joint venture will operate as a Web-based and mobile product in China, providing comprehensive, up-to-date used-vehicle values for consumers, auto manufacturers, car dealers, finance and insurance companies, and other automotive-related companies, according to Kelley Blue Book. KBB.com's used-car values expertise will be integrated with Bitauto's Chinese market understanding and used-car customer base, and CADA's authoritative position and its exclusive access to extensive data on China's used-car market.