Dr. Ira Silver
National Auto Auction Association
Used retail car sales followed new sales up w/ year/year increase of 9.4% in 1st quarter.
Expect used retail sales gains to moderate and are looking for about 4% increase this year to over 40M and a 5% increase in 2013 to over 42M.
Auction Volume Doing Better Even w/ 1% Decline:
Small decline compared to average 8.5% quarterly decline in 1st 3 quarters of 2011.
As Negative Impact of Weak New Sales in 2008 and 2009 Lessens:
Total auction volume is expected to stabilize and then increase during 2nd half.
Volume Improves, but Not Prices:
1st quarter average auction prices continued about flat with last year.