Kelley Blue Book, Bitauto in Joint Venture with China Automobile Dealers Association

Kelley Blue Book today announced a joint venture with Bitauto Holdings Limited (NYSE:

), 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. 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