Kbb Links Up With Bitauto and CADA

Kelley Blue Book

Kel­ley Blue Book announces a joint ven­ture with Bitau­to Hold­ings, pro­vid­ing inter­net con­tent and mar­ket­ing ser­vices for the Chi­nese auto­mo­tive indus­try.

Learn more about what KBB, Bitau­to and CADA exec­u­tives have to say.

Kel­ley Blue Book www.kbb.com, The Trust­ed Resource® and lead­ing provider of new and used car infor­ma­tion today announced a joint ven­ture with Bitau­to Hold­ings Lim­it­ed (NYSE: BITA), lead­ing provider of Inter­net con­tent and mar­ket­ing ser­vices for China’s fast-grow­ing auto­mo­tive indus­try, and 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. China’s cur­rent mar­ket for car val­ues and pric­ing is high­ly frag­ment­ed among ver­ti­cal and gen­er­al search web­sites. KBB.com’s ven­er­a­ble used-car val­ues exper­tise will be inte­grat­ed with Bitauto’s deep local Chi­nese mar­ket under­stand­ing and sol­id used-car cus­tomer base, and CADA’s author­i­ta­tive posi­tion and its exclu­sive access to exten­sive data on China’s used-car mar­ket. With this joint ven­ture, Kel­ley Blue Book can now extend its rela­tion­ships with automak­ers onto a more glob­al plat­form.

“Bitau­to is delight­ed to part­ner with Kel­ley Blue Book and the Chi­na Auto­mo­bile Deal­ers Asso­ci­a­tion to bring inno­v­a­tive vehi­cle val­u­a­tions to China’s used-car mar­ket,” said William Bin Li, chair­man and chief exec­u­tive offi­cer of Bitau­to. “We are con­fi­dent these val­ues will become the start­ing point for con­sumers and deal­ers seek­ing used-vehi­cle pric­ing infor­ma­tion.”

“We want­ed to pro­vide greater trans­paren­cy and con­fi­dence for con­sumers and the val­u­a­tion prod­ucts that are being joint­ly devel­oped will deliv­er on this,” said Mr. Jin­jun Shen, exec­u­tive vice pres­i­dent and gen­er­al sec­re­tary from CADA. “These inno­v­a­tive new prod­ucts will pro­vide com­pre­hen­sive vehi­cle val­u­a­tions to meet the needs of a wide range of Chi­nese auto buy­ers and sell­ers.”

 

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