From 2004 to 2008 the number of autos sold at auction in the US was between 9.4 million to 9.7 million per year. Signs are that this will not change and car auctions will continue to provide a stellar means for buyers to snap up cheaper autos.
Car auctions are so popular that KAR Holdings (the number 2 operator in the auction industry) has decided to go public. With its live and online auction systems, KAR itself sold more than 3.2 million vehicles last year alone.
So people can benefit and profit not only from buying their cars at auction but also by participating in the new float.
