The company still will sell the older, high-mileage vehicles for which it became known when it was AmeriCredit Corp. But the May sale is an introduction to the changing mix of used vehicles GM Financial will sell from now on, says Dan Heinrich, the company's vice president of asset remarketing.
AmeriCredit was acquired by General Motors in 2010 and renamed GM Financial. Leasing was added to its portfolio.
"We've almost always had the independent dealer standing in our lane" at auctions, looking for the older vehicles that often are the specialty of used-only retailers, says Heinrich.
"We have a huge opportunity to get out in front of that franchised dealer, especially those GM dealers with which we have a relationship on the front end," he says.
Heinrich says the company is targeting GM franchised dealers in particular, but the special sale is open to all franchised and independent dealers.
In January, GM Financial hired a marketer for its remarketing department. It is testing whether programs such as vehicle transportation incentives and waiving buyers' fees draws targeted franchised dealers to its auction lanes in targeted markets.
Heinrich would not identify the dealers or the markets selected for the pilot programs. But he says that after three to six months he expects to have programs that are open to all dealers.
Heinrich would not say how many off-lease vehicles GM Financial expects to handle this year. Until November, he said, most will be the result of two-year leases. After that, three-year leases in its portfolio will start to expire, giving the company a broader mix of GM vehicles to remarket.
"These are lease vehicles," he says. "They're just nicer, cleaner vehicles."