GM Financial's auction inventory improving significantly in 2013
Published June 24, 2013
GM Financial's auction inventory has experienced a significant shift with the addition of more late-model, lower mileage vehicles in our lanes over the past year. Since January 2012, our average mileage per vehicle sold at auction has decreased by 22 percent. Over that same time, the average vehicle age has decreased by more than a year and is now five years old. With lease turn-ins beginning to enter our remarketing channels, we anticipate the average age and mileage of vehicles to decrease throughout 2014.
One of the significant benefits of our shift in collateral is that it has allowed us to qualify more vehicles into the NAAA standardized certification programs. Since 2011, the mix of quality vehicles going into our certified programs has increased from 20 percent to 25 percent. These certified vehicles are more attractive to those buyers looking for newer, quality vehicles.
"Right now, we are running fewer vehicles at auctions than we have in the past, but the vehicles we are offering in our lanes are higher quality," said Dan Heinrich, VP Asset Remarketing. "However, beginning this fall our off-lease vehicles will significantly increase, and our vehicle mix will be even more appealing to those dealers looking to stock their used lots with high-quality, less mileage vehicles."
To showcase GM Financial's shifting inventory, the company hosted an All Star Elite Sale on May 17 at Manheim Pennsylvania. The sale was an overwhelming success. Read more about the Elite Sale in this story, GMF All-Star Elite Sale at Manheim Pennsylvania, a "home run" success".