FREDERICK, MD – The 10th annual auction industry survey released by the National Auto Auction Association, Inc. (NAAA) pegs sales of used vehicles at NAAA member auctions at 9.5 million units valued at $86.9 billion. This information is based on the 10th annual auction industry survey completed by LarsonAllen of Arlington, Va., on behalf of the NAAA. Two hundred thirty-six NAAA member auctions responded to the survey, representing a 78-percent response rate for North American member auctions.
The auction industry survey reported that during 2006, of the 16.3 million vehicles entered by NAAA’s North American auction members, 9.5 million vehicles were sold (58.3 percent). The study also reported that 30.1 percent of all North American vehicles sold were fleet/lease and repo vehicles; 50.9 percent were dealer-consigned vehicles; 16.4 percent were factory vehicles; and 2.6 percent were from other sources.
The survey reflects a continuing wholesale auction industry trend toward full-service auction facilities. The majority of North American auctions offer detail shops (99.2 percent) and transportation services (100 percent), either in-house or sublet. Most auctions offer body repair and paint shops (86.4 percent), some level of mechanical services (94.4 percent), and dealer financing (94.4 percent).