The Car and Truck Fleet and Leasing Management Magazine

General Motors Sells Nine-Millionth Used Vehicle At Auction

June 12, 2003

General Motors celebrated the sale of the 9-millionth GM remarketed vehicle at GM Sponsored Auctions on June 10, 2003. The vehicle was sold at Southern Auto Auction, the largest independently owned-and-operated auction in the United States, which this year marks the 20th year of its relationship with GM. "We've had a great relationship with Southern Auto Auction over the years," said Jeff Heichel, director, GM Used Vehicle Activities. "They've sold more than 325,000 GM vehicles at auction since we began our relationship two decades ago. The team at Southern understands that vehicle remarketing is all about driving value for GM dealers and increasing residual values for GM." In 1983 GM utilized 10 auctions with sales of nearly 20,000 vehicles. Today GM redistributes used, off-lease and off-rent vehicles through GM dealers, with the help of 50 auctions nationwide. This provides value not only for GM but also provides a source that makes available high-quality used vehicles for GM dealers. GM also marked its 20-year relationship with Southern Auto Auction on June 10. The first GM auction at Southern Auto Auction took place on April 5, 1983, and included 200 1982 and 1983 used GM cars and trucks. In each of the last two years, Southern Auto Auction sold more remarketed GM vehicles than any other GM Sponsored Auction. This week's auction featured more than 1,200 GM used cars and trucks.
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