NAAA Auctions' Sales Climb to $80 Billion in 2001
National Auto Auction Assocation (NAAA) member auctions reported 2001 sales of 9.45 million units, valued nearly $80 billion according to the association’s fifth annual industry survey released Sept. 14 at the 2002 NAAA Convention in New York City.
The results are a significant increase from the $56.6 billion in sales reported in 1997, the year the survey began.
More than 200 members responded to the survey, a 71 percent response rate that made this the most accurate picture ever available of the NAAA’s overall membership. Highlights of the 2001 survey include:
NAAA’s North American members handed over 17 million vehicle transactions.
38.5 percent of all U.S. vehicles sold were fleet/lease and repo vehicles; 39.4 percent were dealer-consigned vehicles; 19.3 percent were factory vehicles; and 2.8 percent were from other sources.
The national average price per unit sold was $8.840 in 2001, up 0.9 percent from $8,361 in 2000. The average price per unit by zone was: $9,621, Eastern; $8.978, Southern; $8,766, Midwest; and $8,959, Western.
The average auto auction is located on 70 acres, has 259 full- and part-time employees, and operates 7.2 auction lanes. There is, however, a notable difference in size among responding auctions, which reported from one to 335 acres and one to 27 auction lanes.
Virtually all U.S. auctions offer some detail (99.5 percent) and transportation (100 percent) services, either in-house or sublet; 97 percent offer some level of mechanical services; and 89 percent offer body and paint repair.