GM Financial and General Motors’ 15 Millionth Remarketed Vehicle Sells on OPENLANE
General Motors and GM Financial hosted the sale of the 15 millionth remarketed vehicle on GMF DealerSource®, GM Financial’s online auction platform, powered by OPENLANE, the world’s largest upstream vehicle remarketing platform and subsidiary of KAR Auction Services, Inc.
“The remarketing industry is transforming rapidly, and GMF DealerSource has been a critical tool for GM to offer our used inventory to franchise dealers online,” said Jennifer Costabile, general director rental sales, marketing, advertising and used vehicles, General Motors Fleet. “Offering our vehicles on an online platform has allowed us to speed up our goal of selling 15 million remarketed vehicles.”
This milestone sale demonstrates the significant growth and increased utility of GMF DealerSource, which allows GM dealers to purchase off lease, company car and rental vehicles before non-GM dealers, evolving into an integral source for premium pre-owned GM inventory.
“As more GM dealers purchase online every day, and as our vehicle volume grows, GMF DealerSource is the core platform for sourcing GM inventory online,” said Brad Bollman, Senior Vice President of Remarketing – North America for GM Financial. “When GM and GM Financial aligned capabilities several years ago to offer more-diverse inventory to GM dealers online, we made it easier to access premium inventory in one convenient location. Closing this loop so that GM, GM Financial and GM dealers are engaged on a common platform is a true benefit of the GM network.”
Last month, GM used the platform to reach a milestone when the 15 millionth remarketed vehicle. A 2019 Chevrolet Silverado High Country purchased during a GMF DealerSource company car cyber sale. The winning bid was placed by Matt Saxe Chevrolet Buick in Belle Plaine, Minnesota.
The truck comes in Cajun Red with black interior and an ultra-low1,200 miles. It has the Safety Package II package which includes Forward Collision Alert*, Lane Keep Assist with Lane Departure Warning*, Low Speed Forward Automatic Braking* and Front Pedestrian Braking*. It is equipped with the Technology Package that includes HD Surround Vision*. Other features include power sunroof, all-season tires and all-weather floor liners.
GM’s and GM Financial’s Remarketing organizations began working more closely in 2015, including working to sell GM’s company car and rental units on GMF DealerSource. Over the past five years, GM and GM Financial have grown annual sales volume on GMF DealerSource from approximately 2,000 vehicles to more than 250,000 vehicles in 2018. More than 97 percent of GM-franchise dealers are active on GMF DealerSource, with more than 75 percent purchasing vehicles within the past 12 months.
“GMF DealerSource connects GM’s broad dealer-base with pre-owned inventory faster, smarter and easier than ever. We’re excited to be part of exciting milestones like this,” said Peter Kelly, KAR president. “We work closely with GM Financial to evolve our technology and leverage capabilities across KAR, including leading data science, machine learning, artificial intelligence and cloud computing, so dealers have an ultimately modern vehicle sourcing experience.”
*Read the vehicle owner’s manual for important feature limitations and information.