NAAA Member Auctions Generate $73 Billion in Sales for 2011
Sales of used vehicles by National Auto Auction Association members last year totaled 7.7 million units worth $73 billion, according to the organization’s 15th annual survey revealed on Monday.
The survey determined the number of vehicles entering the auctions decreased by 1.6 percent to 13.7 million, and the percentage of units sold was down 3.5 percent.
Conducted by CliftonLarsonAllen of Arlington, Va., for NAAA, association leadership insisted the survey provides the most accurate picture available of the wholesale industry, with a 70 percent response rate representing 220 North American member auctions.
The numbers for sales, units’ entered and gross value are projected to the total NAAA membership of 314.
The survey also revealed dealer-consigned vehicles represented the largest number of units sold at 53.1 percent, followed by fleet/lease and repo vehicles at 35.8 percent, followed by factory vehicles 7.7 percent and 3.4 percent from other sources.
“Given the strain on the auto industry that began in 2008, the 2011 results were very encouraging,” stated NAAA president Charlotte Pyle.
“I believe the slight volume decline in 2011 is a sign the industry will soon see increases in the overall volume of cars entering and being sold at the auctions,” Pyle continued. “The survey results show the strength and depth of a mature industry that despite various challenges 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,” she added.
In other parts of the survey, the data showed the average NAAA member operates an 8-lane facility on 79 acres, employs 140 people with a payroll of $2.7 million and contributes $35,284 annually to charity.
Furthermore, the survey noted several other penetrations, including:
—91.8 percent of North American auctions offer body repair and paint shops
—98.2 percent have detail shops
—98.6 percent provide transportation services (either in-house or sublet)
—97.7 percent have mechanical services
—96.8 percent provide dealer financing