Tag Archive | "SmartAuction"

SmartAuction Hits Five Million Sales Milestone

DETROIT — Ally Financial has announced that five million vehicles have been sold on SmartAuction, its online auction platform.

To celebrate the milestone, Ally held a special auction for the five-millionth vehicle, with proceeds promised to the auction winner’s selected charities. Classic Chevrolet of Grapevine, Texas, won the vehicle with a bid of approximately $180,000, which will be divided among ten charities in the Dallas area.

The five-millionth vehicle sale on Ally’s SmartAuction represents fifteen years of evolution for the platform. Since launching in 2000, it has grown into a nationwide network of virtual inventory, bringing together more than 8,000 wholesale buyers and sellers to bid on 22,500 vehicle listings each day. Nearly 1,200 different makes and models of cars, trucks, SUVs, motorcycles and RVs are represented on SmartAuction, and buyers and sellers include auto makers, dealers, banks, fleet/rental and auction companies.

“The key to our success has been utilizing feedback from our dealership community and leveraging our relationships with independent auctions, rental and fleet companies, and other vehicle consignors to create the best experience online,” said Steve Kapusta, vice president of dealership online services and remarketing at Ally. “As buyers and sellers have grown more comfortable with online auctions, we’ve been able to grow the platform, expanding the virtual inventory of vehicles and incorporating new technology and tools that make purchase and sale transactions easier and faster every day.”

SmartAuction holds a daily online auction where users can bid live on thousands of vehicles nationwide, bringing a unique, real-time auction experience to the online channel. On the platform, buyers can create custom search criteria and schedule alerts to help them target specific cars, and then bid on the vehicles that meet their criteria in real time or via a convenient auto bid feature. Sellers can create and manage vehicle listings using SmartAuction’s helpful tools and answer questions from potential buyers during the auctions. Both buyers and sellers are pre-screened and validated to ensure smoother, more professional transactions and inspire trust from the user community.

The SmartAuction app for iPhone and Android was launched in 2013. In just three touches, users can purchase a vehicle and pay for it automatically using their credit line. The SmartAuction app has an average of 22,500 log-ins each month, and usage has doubled between September 2014 and September 2015, officials said.

“Reaching five million sales on SmartAuction is a testament to the performance of the platform over the years, and its ability to generate value for buyers and sellers around the country,” Kapusta said. “Ally is proud to have strong and trusted relationships with dealers and SmartAuction is just one of the many leading products and services that we offer to help them succeed.”

Approximately $180,000 from the 5 millionth auction sale will be presented on behalf of Classic Chevrolet to their selected nonprofit organizations during a celebration event in Grapevine, Texas on November 16. The organizations will include: 6 Stones Mission Network, Christ’s Haven for Children, The Angel Fund of Trinity High School, RISE Adventures, Grapevine Relief and Community Exchange, Food for the Soul, VAST (Valuable After School Time), Christian Community Storehouse of Kelleher, North Texas SNAP and Neuro Fitness.

“Ally’s SmartAuction platform is an important tool for us when buying and selling inventory, so we are pleased to be part of this milestone for SmartAuction,” said Tom Durant, owner of Classic Chevrolet. “We are also incredibly proud that the funds from this auction will help many organizations in our community that make a difference in so many lives — something the team at Classic Chevrolet is honored to support.”

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Ally Financial Launches Mobile App Designed with Dealer Input

Detroit – SmartAuction, Ally Financial’s online used vehicle auction, launched a mobile app designed utilizing dealer input. Users can now search for vehicles, communicate with sellers, negotiate pricing and make bids over Android and Apple-based smartphones.

“By including dealers as part of the development team we were able to build an intuitive tool that enhances the SmartAuction online market and makes it easier for dealers to find the right vehicles for their markets,” said Steve Kapusta, vice president of SmartAuction.

“Working in the automotive business means you’re rarely sitting behind a desk,” Kapusta added. “Our users told us they needed to be connected to our online market anytime, anywhere, and the new SmartAuction Mobile app delivers the solution to meet that challenge.”

The SmartAuction mobile app includes the following features:

  • Vehicle Search – Conduct basic and advanced searches (make, model, trim, year, drivetrain, etc.) and access saved searches from a user profile.
  • Search Results – Users can sort through specific vehicle criteria on their mobile device (i.e., guide book values, year-make-model, mileage, etc.) and results can be sorted based on preference.
  • Vehicle Details – A wide variety of vehicle information is available, including: Interior and Exterior images, vehicle condition and damage disclosures, CARFAX and AutoCheck reports (as available), wholesale guide book values, vehicle equipment and accessory details, seller information and promotion and incentive eligibility details.
  • Communication Direct to Seller – Users can communicate with sellers on a vehicle directly from the mobile app.
  • Bid List – Users can place bids directly from the mobile app, including placing an AutoBid, Buy Now or Make an Offer.
  • Offers – Users have the ability to conduct private, one-on-one negotiation directly between the buyer and seller. Users can also view and respond to pending offers as a buyer or seller.
  • Vehicle Posting Updates – Vehicle sellers can update the vehicle price and auction status of a posting directly from the mobile app.

“Continuously improving the customer experience is what allows us to remain a leading resource for dealers and consignors. We’re very excited to begin offering SmartAuction Mobile to our customers across the country,” Kapusta said.

Registered SmartAuction users can download the app online at the Apple Store or the Android Google Play store.

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Dealer to Dealer Online Auction Sales Reflect Market Pull for Used Vehicles

TROY, Mich. – Auto dealers experiencing the shortage of high-quality used vehicles across the country are expanding their reach with a virtual online inventory of vehicles from SmartAuction, Ally Financial’s online wholesale remarketing auction site.

This increasing demand has allowed SmartAuction to out-perform the industry by recording a nearly 14 percent increase in dealer-to-dealer online wholesale transactions in the United States for the first six months of 2010 compared to the first six months last year. According to the National Auto Auction Association’s (NAAA) latest Auction Industry Report, wholesale transactions of dealer-owned vehicles were up 6.9 percent across the industry.

“As a barometer of the used vehicle market, the increase in SmartAuction online postings and sales among U.S. dealers shows the heat is still on to find quality vehicles within the shrinking inventory of the wholesale market,” said Mark Newman, SmartAuction managing director. “Dealer-owned vehicles now comprise a majority of the more than 12,000 daily postings on SmartAuction, and our active dealer body now stands at more than 10,000, up from approximately 7,000 dealers at the beginning of 2009.”

In addition to the sizable increases in SmartAuction’s active dealer base, average monthly postings per dealer are more than double what they were last year.

Newman credits several recent enhancements for increased dealer transactions on SmartAuction: greater diversification of vehicle inventory with the addition of more than 1,500 Chrysler dealers; a new dedicated call center to better serve both buyer and consignor needs; and significant improvements in the critical arbitration processes to improve dealer confidence in online used vehicle auction purchases.

In addition to the U.S. online auction growth, SmartAuction has recorded a nearly 45 percent increase in transactions in Canada, as well as 76 percent growth with its SmartAuction Midstream program which provides online auction capability to approximately 100 key independent physical auctions in the United States.

In total, almost 260,000 units have been transacted by all consignors on SmartAuction through the first half of the year in the United States and Canada. In 2009, SmartAuction recorded a total of 520,000 transactions in the two countries for the full year.

“In the current economy, every business needs to maximize its resources,” Newman said. “Dealers who use SmartAuction can efficiently buy and sell wholesale vehicles via a trusted online channel with a track record for results. We value our deep relationships with our General Motors and Chrysler dealers but welcome all franchise and independent dealers to become part of the robust online trade on SmartAuction.”

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