SmartAuction Announces 5 Millionth Vehicle Sale
The 5 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, and mobilized the auction process. In just three touches, users can purchase a vehicle and pay for it automatically using their credit line. This simple and effective mobile interface allows SmartAuction customers to access available inventory to quickly satisfy consumer vehicle needs anywhere, anytime. The SmartAuction app has an average of 22,500 log-ins each month, and usage has doubled between September 2014 and September 2015.
"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, TX on November 16th. 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."
About Ally Financial Inc.
Ally Financial Inc. (NYSE: ALLY) is a leading automotive financial services company powered by a top direct banking franchise. Ally's automotive services business offers a full spectrum of financial products and services, including new and used vehicle inventory and consumer financing, leasing, vehicle service contracts, commercial loans and vehicle remarketing services, as well as a variety of insurance offerings, including inventory insurance, insurance consultative services for dealers and other ancillary products. Ally Bank, the company's direct banking subsidiary and member FDIC, offers an array of deposit products, including certificates of deposit, savings accounts, money market accounts, IRA deposit products and interest checking. Ally's Corporate Finance unit provides financing to middle-market companies across a broad range of industries.
With approximately \\$156.5 billion in assets as of June 30, 2015, Ally operates as a financial holding company. For more information, visit the Ally media site at http://media.ally.com or follow Ally on Twitter: @Ally
About Classic Chevrolet
Family owned and operated since 1960 The Durant Auto Group has expanded to 17 dealerships, anchored by the flagship Chevrolet dealership, Classic Chevrolet in Grapevine. Over the last decade, Classic Chevrolet has sold more Chevys than any other dealer in the nation. Classic has also earned the prestigious GM Dealer of the Year Award for 14 consecutive years.
Since moving the store to Grapevine from Ft. Worth in 1988 Classic Chevrolet has long history of supporting the local community, local schools and non-profit organizations. Since 2012 Classic Chevrolet employees have put on a charity golf tournament to raise money for local charities. Inspired by owner Tom Durant's challenge to "raise as much money as you can", the Steve Thompson Classic has raised \\$427,600 since 2012 which has been matched dollar for dollar by Tom and Susan Durant each year for a grand total of \\$855,200. On October 7, 2015, the 4th Annual Steve Thompson Classic is expected to tally the total money raised to well over \\$1 Million dollars in just 4 years.