GMAC SmartAuction Nets Two Million Online Sales

GMAC SmartAuctionOpen

Having recently notched its 2 millionth online sale, GMAC Finance Services’ SmartAuction internet site continues to integrate new features and expand dealer and third party access to just about 1,000,000 cars listed yearly as an element of GMAC’s industry leading wholesale remarketing program.

GMAC SmartAuction was developed in mid-2000 as a technique of reducing costs and also reinforcing dealer services related to remarketing off-lease cars. Having already added daily rental and dealer-owned autos to the supply, GMAC is now building upon its sector leading web application to grow services available to the nearly seven thousand General Motors associated dealers to non-GM franchised dealers, independent dealers and select rental companies across the U. S. with SmartAuctionOpen.

“We’ve just launched SmartAuctionOpen, which is really our version of an open physical auction providing car access to an even larger number of non-GM and independent dealers,” said Barbara Stokel, GMAC executive vice president of North American Operations. “Adding SmartAuctionOpen permits GMAC to further compliment its dealer programs in a way that eventually improves the bottom line.”

SmartAuctionOpen is a new remarketing division of autos including dealer-owned cars from more than 5,400 eligible GM dealers, select GMAC- owned autos, and rental automobiles from such firms as Firm , Avis, Budget, State and Alamo.

” GMAC SmartAuction and SmartAuctionOpen are really meant as a complimentary tool to the physical auction process many dealerships rely on for their used automobile business,” announced Steve Kapusta, director GMAC Remarketing. “We continue to see about 3,500 GM dealers logging onto GMAC SmartAuction on a day basis. In the course of a year, more than 5,000 dealerships purchase a vehicle which meets their needs.”

GMAC SmartAuction and SmartAuctionOpen have many edges over traditional wholesale remarketing activities including a serious savings of time for those dealership employees who might otherwise have to leave the dealership to attend a physical auction. In addition, an off-lease automobile can be listed via GMAC SmartAuction in 2 to 4 days after turn-in, as forty five days to taking as long as 45 days to appear at a physical auction. GMAC has also coordinated a third party vehicle outlines inspiring dealers to standardize vehicle descriptions encouraging dealers to bid confidently.

Vehicles are generally listed on GMAC SmartAuction and SmartAuctionOpen for three to 5 which are not purchased are then transported to physical auctions round the country. GMAC often lists ninety p.c of its off-lease cars thru SmartAuction while continuing to support physical auctions with desirable vehicles as well.

GMAC SmartAuction is still exclusive to be exclusive to GM franchised dealers offering them the 1st chance to purchase GM rental repurchase program vehicles, GM company automobiles and GMAC lease returns, like the GM Factory Sale at traditional physical auctions.

The daily number of vehicles listed on GMAC SmartAuction is guessed between seven thousand and nine thousand on any given day. Over fifty percent of that number would be available through SmartAuctionOpen to the wider purchaser base of GM, non-GM franchised dealers and independent dealers.