Big name car manufacturers sign up to new price communication service

Online automotive services provider Quotevine has signed its first clients – Kia Motors (UK) and Hyundai Motor UK – less than two months after its launch,

Both companies have commenced trialling Quotevine Term Manager – a cloud-hosted software system that enables manufacturers to communicate their pricing terms to leasing companies in a more efficient, secure and auditable manner.

"It’s difficult to think of better start-up customers than Hyundai and Kia as they’re two of the fastest growing manufacturers supplying the fleet market," said Quotevine chief technology officer Daniel Layne.

"Both grew their fleet sales by around 50% last year at a time when the wider fleet market expanded by only 4%. Between them they now account for over 50,000 fleet sales per annum. So we are particularly pleased with the confidence both companies have shown by choosing us to assist them in this important aspect of their business."

With sales to leasing companies accounting for approximately a quarter of this headline figure, the Quotevine Term Manager will assist in managing incentive payments worth just under a quarter of a billion pounds over the coming 12 months.

"The key advantage to manufacturers is that our system adds structure, eliminates process and provides accuracy to managing, creating and issuing incentives – whether as standard terms or for tactical campaigns," said Layne.

"This trial of Quotevine Term Manager will be a real help in knowing when terms are received and actioned by lessors,” said Mark Howlett, national contract hire relationship manager at Kia. "It was great to see suggestions for enhancement implemented so quickly."

"We’ve found Term Manager to be really intuitive," said Jeff Peyton-Bruhl, national fleet operations and remarketing manager at Hyundai. "We were set up and ready to use the system in less than two hours."