Thursday, May. 29, 2014, 03:00 PM UPDATED 10:18 AMBy Auto Remarketing Staff
FREDERICK, Md. -
There were 8.2 million used cars sold at the National Auto Auction Association’s North American member locations in 2013, according to NAAA’s 17th annual survey, conducted by CliftonLarsonAllen LLP. Sales of these vehicles were worth a grand total of $75.7 billion.
The survey also found there were 15.2 million cars entering these auctions last year, which marked a 4.3-percent increase. There was a 4.2-percent increase in the percentage of cars sold.
“The 2013 results are encouraging,” said NAAA chief executive officer Frank Hackett. “The survey results show the strength and depth of a mature industry that has demonstrated its resiliency.
“I’m confident we’ll continue to be a vital and growing part of our nation’s economy in the decades to come.”
Among all units sold at NAAA’s North American auctions, dealer consignment cars represented the biggest slice of the pie (58.8 percent). Next up was finance and fleet (lease, fleet and repo) at 34.3 percent.
Manufacturer (factory) cars had a 5.7-percent share, while 1.2 percent of cars sold were from other sources, NAAA indicated.
The study also uncovered some overall attributes of an NAAA auction. The average member has a seven-lane facility on 65 acres. Auctions, on average, have a $3.7 million payroll with 142 employees, and contribute $16,000 to charity each year.
NAAA indicated that there was an 81-percent response rate to the survey, noting that the “reported total vehicles entered and sold and the related gross values are projected to estimate the totals for all 325 NAAA member auctions.”