Should Be Best Year for Auction Volume Growth in Over 10 Years

Dr. Ira Sil­ver
NAAA Econ­o­mist
Nation­al Auto Auc­tion Asso­ci­a­tion

For August, NAAA reports auc­tion vol­ume was up 4.8% over pri­or year, and 3.9% year-to-date. Increased deal­er con­sign­ment vol­ume from improved new vehi­cle sales in recent months and through the remain­der of year will com­bine with con­tin­ued robust com­mer­cial con­sign­ment. That should make 2014 the best year for auc­tion vol­ume growth in more than a decade. Last year was first year in which both deal­er and com­mer­cial con­sign­ment increased since 2003.

See Dash­board and Dr. Ira Silver’s arti­cle on page 7 of On the Block

Deal­er Con­sign­ment Growth Slowed this Year with New Sales Ear­ly in Year:
While com­mer­cial con­sign­ment remained strong due to lagged impact of strong
new sales growth ear­ly in eco­nom­ic recov­ery.

New Vehi­cle Sales Were Up 9.9% Over August 2013 and 5.1% Year-to-Date:
Used vehi­cle sales vol­ume was down -6.5% over August 2013 and -0.5% YTD.

Expect New Vehi­cles Sales to Reach 16.5M this Year and 17M in 2015:
That comes from pick­up in employ­ment growth, pent-up demand, and very low financ­ing costs.

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