Auto resale firm Manheim opens third China location

Vehicle resale services company Manheim has a new joint venture with Beijing Automotive Industry Holding Co. Ltd (BAIC), a state-owned automobile group.

Manheim, the second-largest unit of Atlanta-based Cox Enterprises Inc., said it is building a one-lane facility that will open in mid-June in the southern part of Beijing. Known as Beijing Manheim BAI Motor Vehicle Auction Co. Ltd. (Manheim BAI), the venture is jointly owned by BAIC and Manheim China Holdings.

The Beijing operation is the third China-based location of Manheim, who opened operations in Shanghai and Shenzhen in 2006.

"Beijing is a key city in our development strategy for China, and presents opportunities to introduce our technology products and auction capabilities to new customers," said Mike Langhorne, Manheim senior vice president of international operations.

In 2007, Manheim handled nearly 10 million used vehicles in transactions worth a total of more than $59 billion.