DETROIT — SmartAuction, Ally Financial’s online used vehicle auction, just sold its 4 millionth vehicle. Established in 2000, SmartAuction is a wholesale Internet remarketing channel for dealers, rental car companies and other consignors seeking to buy or sell quality used vehicles.
“We’re pleased to mark a milestone as significant as selling 4 million vehicles in a pure upstream online-only auction,” said Steve Kapusta, vice president of SmartAuction. “Achieving this level of performance is a testament to the efficiency of Internet-based transactions as SmartAuction buyers and sellers keep their inventories moving, and dealers find the right vehicles for their customers. We’ll continue to make SmartAuction an even better value for our online community as we embark upon achieving the next million transactions. I extend my thanks to the many consignors and dealers that utilize SmartAuction for their continued confidence and support.”
Tim Russi, executive vice president of Ally’s North American operations, said SmartAuction is an important part of the total value that Ally offers its dealer clients: “Today’s milestone is further proof of the unmatched value that SmartAuction delivers and Ally’s commitment to help dealers grow their businesses and sell more vehicles. We are the dealer’s ally, and thanks to their support we’re achieving remarkable results together.”
* To reach the 4 million vehicle sale milestone, SmartAuction has sold approximately 1,200 vehicles every selling day for the last 12 years.
* The total estimated wholesale value of the 4 million vehicles sold on SmartAuction since 2000 is more than $58 billion.
* Nearly 46 million bids have been placed on vehicles posted to SmartAuction since its inception in 2000 and approximately 15,000 bids are placed each day.
* More than 55 vehicle makes and 20 recreational vehicle and motorcycle makes have been listed on SmartAuction in 2012.
Ally Financial, formerly General Motors Acceptance Corp., is an automotive financial services company powered by a top direct banking franchise. Ally’s automotive services business offers a full suite of financing products and services, including new and used vehicle inventory and consumer financing, leasing, inventory insurance, commercial loans and vehicle remarketing services.
Ally Bank, the company’s direct banking subsidiary, offers an array of deposit products, including certificates of deposit, savings accounts, money market accounts, IRA deposit products and online checking. Ally’s Commercial Finance unit provides financing to middle-market companies across a broad range of industries.
With approximately $179 billion in assets as of June 30, Ally operates as a bank holding company.
More at www.ally.com.