Despite the increasing popularity of online auctions, dealers still find a lot of value in attending brick-and-mortar auctions. Used car buyers can’t exactly kick the tires and listen to the engines of potential inventory with a mouse or keyboard. However, after spiking last year at 113.9, the group average took a significant dip of about 15 points this year to 98.7.
by Staff
March 30, 2010
2 min to read
Auction Companies - Traditional
Despite the increasing popularity of online auctions, dealers still find a lot of value in attending brick-and-mortar auctions. Used car buyers can’t exactly kick the tires and listen to the engines of potential inventory with a mouse or keyboard. However, after spiking last year at 113.9, the group average took a significant dip of about 15 points this year to 98.7. Of course, this could simply reflect the continuing trend toward a preference for the convenience online auctions offer.
After being the only provider to score above average last year, perennial favorite Manheim returned to claim the Diamond Award, earning the title of Double Diamond winner. With its country-wide network of auctions, Manheim has won a Dealers’ Choice Award six years running. “Manheim strives to lead the industry in its selection of quality inventory and its variety of selling opportunities, and it’s the best compliment when our customers take notice,” said Sue Boehlke, senior vice president of products and processes for Manheim.
Returning to the Traditional Auction category this year is ADESA, claiming the Platinum Award. ADESA has won awards in this category four out of the past five years. Somewhat surprising is the fact that independent auctions failed to get 10 percent of votes once again this year; in the 2008 awards, independent auctions were collectively the dealers’ favorite.
The variables influencing risk pricing have changed significantly over the past five years. Being proactive and responsive to emerging trends is not optional but essential.
AutoPayPlus says extra-long auto loans are trapping consumers and threatening the dealer trade-in cycle, and that the industry is leveraging the wrong tools to combat high MSRPs.
