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4 Millionth Vehicle Sold on SmartAuction

August 7, 2012

DETROIT — Ally Financial’s SmartAuction just sold its 4 millionth vehicle. That equates to more than $58 billion in sales on the online used-car auction, which was founded in 2000.

SmartAuction is a wholesale Internet remarketing channel for dealers, rental car companies and other consignors seeking to sell or purchase quality used-vehicles. Officials said the site has sold approximately 1,200 vehicles every selling day and has received nearly 46 million bids for the last 12 years.

“We’re pleased to mark a milestone as significant as selling four 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.”

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.

“No other company in the industry provides the breadth and depth of products and services that Ally offers,” he said. “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.”

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