GM Financial will host a sale of around 200 2010-13 GM vehicles

Article by Christian Andrei, on May 2, 2013

Next month, captive finance firm GM Financial Co. will host a sale of around 200 2010-13 GM vehicles (most of which are Cadillacs) at Manheim, Pennsylvania. This is part of its strategy of offering a mix of used vehicles so that it can change its image of being known as a seller of older, high-mileage vehicles when it was still AmeriCredit Corp., according to Dan Heinrich, the vice president of asset remarketing of GM Financial.

General Motors acquired AmeriCredit in 2010 and so it was renamed GM Financial. Leasing was added to its portfolio. Heinrich said that at auctions, the independent dealer will be typically looking for older vehicles that are usually the specialty of used-only retailers.

He said that the company sees the opportunity to attract franchised dealer particularly GM dealers. Heinrich also said that all franchised and independent dealers are welcome to this special sale.

Last January, GM Financial employed a marketer to handle its remarketing department. It is conducting tests on if programs like vehicle transportation incentives and waiving buyers' fees appeals to franchised dealers and attracts them to its auction lanes in targeted markets.

Heinrich declined to name the dealers or the markets chosen for the pilot programs. However, he said that after 3 to 6 months, he believes that there will be programs that all dealers will have access to. Heinrich won’t say how many off-lease vehicles GM Financial estimates it will be able to manage this year. He said that there will be mostly two-year leases until November. After this, three-year leases in its portfolio will begin to run out, enabling the company to offer a broader combination of GM vehicles to remarket.

Topics: gm, sales

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

Nearly a decade after Opel and sister brand Vauxhall introduced the Insignia large family car, these companies are now getting ready to unveil the second generation of this offering from...
by - December 7, 2016
After we caught a glimpse of the revamped Amarok, VW Australia once again wants to give its ute a sinister look inspired by the Mad Max movie franchise. The “Korama”...
by - December 7, 2016
Customers in the European market are known for leaning towards style and with this in mind, Nissan has revealed the special LEAF Black Edition. While the production run of this...
by - December 7, 2016
When Volkswagen unveiled the VW Atlas, it declared that this SUV is being developed for the United States and is set to arrive as a 2018 model. It also unveiled...
by - December 7, 2016
Did you miss the opportunity to get a brand new Dodge Viper? Well, here’s something you don’t want to miss. Dodge has announced a “final call” for orders for its...
by - December 6, 2016
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries