The CEI Group, Inc. (CEI) has more than doubled the size of its salvage network, expanding its buyer network and enabling it to obtain higher prices for fleets looking to sell used vehicles. The network includes buyers of all types of vehicles, from sedans to heavy-duty trucks and specialty equipment vehicles. “The expansion of our buyer network gives us greater flexibility to meet our customer’s needs, both in terms of geography and type of vehicle,” said Chris Villella, CEI’s senior manager of loss
recovery and insurance services.
Looking for more buyers for heavy-duty equipment has changed the remarketing process for CEI. While the company was focused on national buyers, sales of more heavy-duty equipment has brought in more regional buyers, and that’s enabled CEI to gain more bids per sale, better prices and faster sales, Villella said.
Salvage sales have grown quite a lot for CEI. Since January, 2008, CEI has completed more than 4,500 salvage sales with a total value of $14.6 million. The company increased its salvage sales by more than 48% from 2011 to 2012.