TROY, MI – SmartAuction, an upstream remarketing Web site, is on a record sales pace having facilitated nearly 210,000 online transactions year-to-date through May, an annualized pace of 500,000 vehicle transactions per year.
SmartAuction with more than 7,700 active users, continues to see growth among its diversified dealer population. While SmartAuction's history extends back to General Motors, SmartAuction today has more than 2,100 non-GM dealers using the Web site for their remarketing needs.
"In a challenging economic environment, SmartAuction's ability to bring value to the dealer has actually led to our dealer population growing by 500 to 600 dealers so far this year," said SmartAuction Managing Director Mark Newman. "We now also have the chance to welcome more than 2,000 new Chrysler dealers to SmartAuction, as we continue to diversify our operations from a captive finance provider to a more independent company serving multiple customers."
Through May, SmartAuction recorded a 33 percent year-over-year increase in sales between dealers, a major component of the nearly 40 percent increase in volumes from non-GM/GMAC consignors so far this year. Dealers as a group are now one of the major consignors on SmartAuction and join new rental car, fleet and financial institutions in continuing to grow the SmartAuction buyer and seller community.