US Auto Auction Market
Delivered October 7, 2019. Contributor: Benjamin H.
Goals
To obtain the auto auction market size, key players/competitors (such as Bring A Trailer and Hemmings), user journey, and best practices for launching reserve and non-reserve auto auction platforms in the United States. This research would be used in identifying a target market and creating a launch strategy and positioning. Early Findings
- According to Research and Markets, the United States vehicle auction market is predicted to grow at a healthy rate between 2019 and 2023.
- Major drivers of growth in this market include a rise in the average age of light vehicles within the country, an increase in vehicle crashes, rapidly growing revenue, and a "strong demand for salvage auction vehicles" from international buyers.
- Copart Inc., KAR Auction Services Inc., and Manheim are some of the major players in the North American vehicle auction market. These companies operate in the online auction space.
- Safehaven.com reports that 12 million used cars and 5 million new cars are sold yearly in the United States.
- A total of 17.1 million cars were sold within the United States in 2017.
- In addition to this public search, we scanned our proprietary research database of over 1 million sources and were unable to find any specific research reports that address your goals.
Proposed next steps:
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