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General Motors Sells 11-Millionth Used Vehicle at Auction


October 2006
 Filed under: GENERAL MOTORS CORPORATE Car News | GENERAL MOTORS CORPORATE Headlines
GM Sponsored Auctions Achieves Milestone at ADESA MemphisDETROIT, 2006-10-25 – General Motors reached a landmark today with the sale of the 11-millionth GM remarketed vehicle at auction. The vehicle, an accessorized 2006 Chevrolet Silverado pickup, was sold today at the ADESA Memphis auction in Memphis, Tenn., to Petrus Chevrolet, of DeWitt, Ark.
“ADESA Memphis has been a great General Motors sale over the past 16 years and we’re pleased we can share this honor with our auction partners here,” said Jeff Heichel, director, GM Used Vehicle Activities. “This is a milestone that is the result of the contributions all of our auction venues have made over the last two decades. The ADESA Memphis team and all our GM Sponsored Auctions understand that vehicle remarketing is about providing outstanding service and value to our dealers, from reconditioning and repairs to presenting the vehicles in the sale lanes.”

Since its first GM auction in 1990, this location has sold more than 170,000 GM used vehicles. Today’s auction featured 800 GM used cars and trucks. Nearly 220 dealers participated in today’s sale.

“GM’s decision to sell its 11-millionth used vehicle here is a real tribute to the ADESA Memphis team’s commitment to meeting the needs of our factory customers and to the pride and dedication of the auction employees here,” said Matt Scott, general manager, ADESA Memphis. “We’ve had an excellent relationship with GM over the past 16 years, working hard to develop programs and processes to help maximize resale value.”

General Motors has been a major participant in the growth of the auction industry over the last two decades. In 1983, GM used 10 auctions with total sales of nearly 20,000 vehicles. Today GM redistributes used, off-lease and off-rent vehicles through GM dealers, with the help of 45 GM Sponsored Auctions in the continental United States. This provides value not only for GM, but also provides a source that makes available high-quality used vehicles for GM dealers.

About ADESA Corporation, LLC
ADESA Corporation, LLC, offers a full range of auction, reconditioning, logistical and other vehicle-related services to meet the remarketing needs of both its institutional and dealer customers. With 40 auction locations in the United States, 13 in Canada and one in Mexico, strategically located near metropolitan areas with a large concentration of used vehicle dealers, the company is well positioned to host both physical and Internet auctions. Through its related subsidiaries of AutoVIN and Par North America, it is also able to provide additional services including inspections, inventory audits and remarketing.outsourcing solutions, including a network of repossession agents, titling and auction sale representation. Visit www.adesa.com for more details.

About General Motors
General Motors Corp. (NYSE: GM), the world’s largest automaker, has been the global industry sales leader for 75 years. Founded in 1908, GM today employs about 327,000 people around the world. With global headquarters in Detroit, GM manufactures its cars and trucks in 33 countries . In 2005, 9.17 million GM cars and trucks were sold globally under the following brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, HUMMER, Opel, Pontiac, Saab, Saturn and Vauxhall. GM operates one of the world’s leading finance companies, GMAC Financial Services, which offers automotive, residential and commercial financing and insurance. GM’s OnStar subsidiary is the industry leader in vehicle safety, security and information services. More information on GM can be found at www.gm.com

Source: GM

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