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United States Vehicle Auction Market Report 2019-2023 - Extensive Use of Data and Analytic Capabilities to Streamline Operations

Dublin, Nov. 01, 2019 (GLOBE NEWSWIRE) -- The "The US Vehicle Auction Market: Size, Trends & Forecasts (2019-2023)" report has been added to ResearchAndMarkets.com's offering.
US Vehicle Auction Market: Size, Trends & Forecasts (2019-2023) includes the analysis of the vehicle auction market in the US in terms of value, volume and segments.The vehicle auction market can be split into two segments which are whole/ used cars auctions and salvage auctions. Whole car auction vehicles includes vehicles sold by vehicle manufacturers, used car dealers and their captive finance companies, commercial fleet operators, rental car companies and financial institutions to franchised and independent used vehicle dealers.
On the other hand, salvage vehicle auction industry offers a venue for sellers, mainly automobile insurance companies, to dispose total loss, damaged or low value vehicles to dismantlers, scrap dealers, rebuilders or qualified public buyers.The US vehicle auction market is forecasted to grow at a healthy rate during the forecast period (2019-2023). The market is supported by various growth drivers such as rise in average age of light vehicles in the country, hike in vehicle crashes, surging revenue per car auctioned pricing and strong demand for salvage auction vehicles of US from international buyers. Fluctuations in supply of used vehicles and the possibilities of the business of vehicle auction service providers getting negatively impacted in the case of unfavorable economic conditions are some of the challenges confronted by the market.
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