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DETROIT - Dealers who sell General Motors brands are using General Motors Acceptance Corp.'s remarketing Web site to sell used vehicles to each other.
Until February, dealers only could buy off-lease and retired rental vehicles on GMAC's Smart Auction Web site. But with a program called Smart Auction Direct, dealers have added flexibility.
Dealers are responding. Since February they have listed about 15,000 used vehicles 5 years old and newer on the site and have sold more than 4,000, according to Bill Ploog, general director of remarketing and re-engineering at GMAC.
About 650,000 used vehicles have been sold on the Smart Auction Web site since it opened in mid-2000.
Ploog says the captive finance company opened the Web site to dealers because...