DUBLIN–(BUSINESS WIRE)–The “The US Vehicle Auction Market: Size, Trends & Forecasts (2019-2023)” report has been added to ResearchAndMarkets.com’s offering.
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.
Acquisitions, integration of online auctions with technologies such as Artificial Intelligence (AI) and extensive use of data and analytic capabilities to streamline auction processes are some of the trends in the market that