RumbleOn Announces Strategic Partnership with Sonic Automotive
December 14 2017 - 4:10PM
RumbleOn’s First Partnership within the
Automotive Industry Provides Sonic Automotive Customers
at More than 100 Dealerships with Instant Values and Enhanced
Liquidity Options
RumbleOn, Inc. (Nasdaq:RMBL), a disruptive e-commerce platform that
facilitates the ability of consumers and dealers to buy, sell,
trade, and finance pre-owned motorcycles in one online location,
today announced that they have entered into a strategic partnership
with Sonic Automotive (NYSE:SAH). Sonic Automotive currently
operates over 100 dealerships in 13 states and 25 major
metropolitan markets. This strategic partnership enhances
RumbleOn’s ability to acquire quality inventory direct from
consumers for the RumbleOn Marketplace. Under this strategic
partnership, Sonic will gain access to RumbleOn’s e-commerce
platform to provide instant appraisals and liquidity, enabling
Sonic to aggressively trade for motorcycles on their car and truck
transactions. This significantly enhances RumbleOn’s ability to
scale its direct from consumer acquisition strategy while providing
incremental sales opportunities for auto dealers across the
country.
Marshall Chesrown, RumbleOn Founder and CEO, commented, “We are
proud to have created a unique online platform, with applications
that extend far beyond just enabling RumbleOn to facilitate buying,
selling, trading and financing of powersport vehicles. This
partnership is the first of its kind, streamlining the process for
consumers wanting to sell a motorcycle as part of a car or truck
transaction, and offering benefits to both RumbleOn and Sonic. It
expands RumbleOn’s ability to acquire quality inventory from
consumers. It is also expected to create a significant
benefit to Sonic, enabling them to aggressively trade for
motorcycles as part of their car and truck transactions, and
generating additional sales while providing enhanced customer
service. Importantly, this marks our Company’s first step
beyond the traditional powersport industry.”
Jeff Dyke, President at Sonic Automotive, stated, “We are
excited to work with RumbleOn to enhance our ability to serve our
customers. With the support of RumbleOn’s seamless, easy to
use online appraisal platform, we can now offer customers the
opportunity to trade their motorcycle towards the purchase of a new
or used car or truck. We look forward to working with RumbleOn to
continue to offer our customers innovative solutions to current
inefficiencies in the market place, as we believe RumbleOn will
assist Sonic in continuing to provide exceptional customer
service.”
About RumbleOn
RumbleOn operates a capital light disruptive
e-commerce platform facilitating the ability of both consumers and
dealers to Buy-Sell-Trade-Finance pre-owned motorcycle and other
powersport and recreation vehicles in one online location.
RumbleOn’s goal is to transform the way motorcycles and other
powersport and recreation vehicles are bought and sold by providing
users with the most efficient, timely and transparent transaction
experience. RumbleOn’s initial focus is the market for 601cc and
larger on-road motorcycles. Serving both consumers and
dealers, through its online platform, RumbleOn makes cash offers
for the purchase of their vehicles and intends to provide them the
flexibility to trade, list, or auction their vehicle through
RumbleOn’s website and mobile applications. In addition, RumbleOn
offers a large inventory of used vehicles for sale along with
third-party financing and associated products. For additional
information, please visit RumbleOn’s website at www.RumbleOn.com.
Also visit the Company on Facebook, LinkedIn, Twitter, Instagram,
YouTube and Pinterest.
Forward-Looking Statements
This press release contains “forward-looking
statements,” as that term is defined under the Private Securities
Litigation Reform Act of 1995 (PSLRA), which statements may be
identified by words such as “expects,” “plans,” “projects,” “will,”
“may,” “anticipate,” “believes,” “should,” “intends,” “estimates,”
and other words of similar meaning. Such forward-looking statements
include whether this partnership will make a significant and
immediate contribution to the Company and whether this partnership
will be able to assist in the Company’s rapid expansion. Readers
are cautioned not to place undue reliance on these forward-looking
statements, which are based on our expectations as of the date of
this press release and speak only as of the date of this press
release and are advised to consider the factors listed above
together with the additional factors under the heading
“Forward-Looking Statements” and “Risk Factors” in the Company’s
Annual Report on Form 10-K, as may be supplemented or amended by
the Company’s Quarterly Reports on Form 10-Q and other SEC filings.
We undertake no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise, except as required by law.
Contact:Alecia Pulman (Media) / Megan Crudele
(Investors)ICRRumbleOn@icrinc.com 646-277-1200
Source: RumbleOn, Inc.
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