Posted August 05, 2018 03:04:04 The U.S. car auctioning industry is undergoing a significant shakeup as automakers are trying to sell more vehicles in the wake of the Great Recession.
Auto auctions are expected to be held in Michigan, Ohio and Wisconsin starting August 18.
The two states that hold the largest number of vehicles are Wisconsin and Ohio, according to the National Association of State Auction Dealers.
In Wisconsin, auto auctions are set to run from Aug. 18 to Sept. 4, and there are an estimated 5,000 vehicles on offer, according the National Automobile Dealers Association.
Ohio’s auction, for the first time, will run from Sept. 10 to Sept, 17.
According to the association, there are now over 400,000 autos on sale in Ohio.
Michigan’s auctions will begin Sept. 18, with prices set to range from $30,000 to $50,000.
Wisconsin has been the second-largest state in terms of auto sales with a market share of just under 18 percent, followed by Michigan with 15 percent, according Automotive News.
Many states have seen a drop in car sales in recent years, and Wisconsin is the only state in the country to have an overall decline in sales.
But that trend hasn’t stopped some auto dealers from making their mark on the market.
The Wisconsin Auto Dealers’ Association recently announced a $25 million incentive program to lure buyers to the state.
Bentley and Ford’s acquisition of a minority stake in Fiat Chrysler Automobiles in December 2016 has boosted sales in the state, with Ford sales surging by almost 10 percent in 2017, according Auto Sales.
While sales have been slowing in some states, the industry is expected to pick up in the coming years.
Auctions are also expected to continue to grow in California and New York.
“Auction houses are going to continue expanding in this state as they are in every state in America,” said Mike Biederman, president of the National Auto Dealership Association.
“Wisconsin is going to be a big one.”