SmartAuction Hits Five Million Sales Milestone
October 08, 2015
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."