FREDERICK, MD - The ninth annual industry study released by the National Auto Auction Association (NAAA) pegs sales of used vehicles at NAAA member auctions at 9.40 million units, valued at $82.5 billion. The survey - completed by Langan Associates of Arlington, Va., on behalf of the NAAA - reflects the most accurate picture ever available of the NAAA’s overall membership, which comprises the wholesale auto auction industry.
Two hundred twenty-two members responded to the survey, representing a 74-percent response rate for North American auctions. The study revealed that during 2005, 60 percent of the 15.8 million vehicles entered by NAAA’s North American members were sold, representing 9.40 million vehicles.
The study also indicated that 29.4 percent of all U.S. vehicles sold, were lease/fleet and reprocessed vehicles; 51.6 percent of the vehicles sold were dealer-consigned vehicles; 16.9 percent were factory vehicles; and 2.1 percent are from other sources.
The ninth annual survey reflects a continuing industry trend toward full-service, one-stop auction facilities. The majority of North American auctions offer detail shop (99.1 percent) and transportation services (99.6 percent) either in-house or sublet. Most auctions also offer body and paint repair (86.7 percent), some level of mechanical services (94.2 percent), and dealer financing (92.8 percent).