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Remarketing Solutions Launches New Release Of Its Portfolio Management System

June 12, 2003

Remarketing Solutions (RS) began a partnership with Mercedes-Benz Credit, a DaimlerChrysler Services business unit, on June 2, 2003, whereby RS will administer all Internet-based dealer purchases through Mercedes-Benz Credit’s DPP (Dealer Purchase Program) Plus system.MB Credit is currently offering vehicles for sale via a custom Web site in a tiered upstream format. Through this sales strategy, MB Credit initially provides a 48-hour window during which the grounding dealer has the chance to purchase the vehicles. After that window passes, the opportunity to bid on any unsold vehicles is offered to the more than 300 Mercedes-Benz franchise dealers nationwide for an additional 48 hours. Any remaining units are then offered in an "open sale" format available to all subscribers of Manheim On-Line.Remarketing Solutions will administer the sale process as if the vehicles were sold at a traditional, physical "live," auction providing comprehensive vehicle inspections, payment processing, title transfer, arbitrations and release notification/gate pass.
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