Todd Caputo wasn’t sure what exact model would roll down the lane Wednesday morning at Southern Auto Auction, but he knew he wanted it.

And fortunately for the Chittenango, N.Y., dealer, his bid for the 14 millionth vehicle ever remarketed by General Motors — a 2011 Chevrolet Equinox — was the winner.

“I was excited to buy the car. I wanted to be a part of history,” Caputo told Auto Remarketing by phone Wednesday afternoon on his way back from the East Windsor, Conn., auction.

“I kind of stood outside the overhead door, so I couldn’t really tell exactly how many people were bidding on it. I could just see hands, but I couldn’t see faces,” the owner of Sun Chevrolet, Inc. added, noting that the bidding was “pretty active.”

As Caputo, GM and Southern AA celebrated this landmark sale, Dan Kennedy — manager of GM Remarketing — also shared his perspective with Auto Remarketing on Wednesday afternoon, not long after the vehicle was sold.

“When you start thinking about the number of vehicles that have gone before us … this really demonstrates the commitment we’ve got to our dealers, to be able to provide them with good quality used vehicles,” Kennedy said.

“One of the biggest (profit centers) is used cars,” he added. “Plus, this is also a feeder, if you would, for our certified pre-owned programs. It’s a great for our dealers to stay in the used-car business and get the quality of products they need in order to service the customers.”

There was not any specific numbers available as to how many of these 14 million remarketed vehicles have made their way into the GM Certified program, as these figures tend to fluctuate year to year, Kennedy explained.

However, it certainly has served as CPO supply stream.

“I think you can safely say that a fairly significant percentage of our vehicles that we sell at the auctions find their way into the certified program,” he noted.

Adding some more perspective from the certified side, Larry Pryg — national manager of Certified Pre-Owned Vehicles at GM — said:  “This GM Remarketing milestone speaks to the quality of our products and the success of our auction partners and Certified Pre-Owned dealers. Our Certified Pre-Owned dealers acquire a portion of their inventory from these auctions, and because of their success, our customers have a more robust vehicle selection.”

More Details on Landmark Sale

Sharing more about the sale, Caputo said he bought the vehicle around 10 a.m. EST.  The auction had a sign on top of the vehicle and an announcement was made about it being the landmark vehicle.

"They had the car wrapped up, so I didn’t know what it was going to be prior to coming in," he noted.

Caputo learned this milestone vehicle — which had been a company car — would be at the sale after being contacted by the auction and invited to the sale. Having been an SAA customer for roughly 20 years, Caputo said this was a sale he attends anyway.

After buying the landmark vehicle, Caputo was given a crystal plaque commemorating the sale and he said he has all the signs from the auction that went with the special vehicle. In addition to showcasing it on his store’s website, www.usedcarking.com, Caputo also plans to have it displayed on the showroom floor once it arrives back at his dealership.

How Facility Was Chosen

This is not the first time that SAA has served as host for a landmark GM Remarketing sale. The auction also sold GM’s 2 millionth and 9 millionth remarketed vehicles.

This time around, the facility was chosen because it won a contest GM Remarketing held in 2011, where the company challenged its auctions to reach out to dealers who hadn’t been active in the GM Remarketing program during the prior 12 months and get them re-engaged.

The auction that pulled in the most sales from inactive dealers in October was given the grand prize of being able to host this sale. 

“Southern Auto Auction got very, very aggressive,” Kennedy said. “They went out and got the dealers. They pounded on the doors and got the dealers to come on back.”

65 Years for SAA

As detailed previously in Auto Remarketing, the commemorative event was the launching pad to a series of celebrations for the auction’s 65th anniversary.
SAA has its Dealer Appreciation Extravaganza on tap for April and May and is planning on giving out $50,000 worth of prizes.

“It is an honor for SAA to remarket the 14 millionth vehicle for GM. In our 29-year partnership, we have remarketed the 2 millionth and the 9 millionth vehicle for General Motors,” auction owner and president Larry Tribble said earlier this month.

“As I look back over the years and reflect upon our GM partnership, I was astounded to realize we have sold over 850,000 cars for over $10.5 billion in gross proceeds,” he continued.