Insurance Auto Auctions, Inc., a leading provider of automotive
salvage and claims processing services in the United States,
today announced record vehicle returns during the second
quarter.
IAA’s dual bidding strategy has continued to drive more buyers
to the Company’s auctions than ever before, resulting in
increased bidding activity and higher vehicle returns for its
insurance company suppliers.
“Combining the feedback we have been receiving from our
customers with our internal data, we believe our vehicle returns
were the highest in the industry during the quarter, which we
feel is a direct result of our dual bidding platform and
improved levels of customer service,” said Tom O’Brien, CEO. “On
average, our returns have increased more than $300 per unit
compared to 2003, providing a significantly better return for
our insurance company suppliers. Our live auctions, most of
which feature Run & Drive(R) auction lanes, are supplemented
with our state-of-the-art Internet bidding capability, giving
our growing customer base the flexibility to see and bid on our
vehicles up close or through the Internet from anywhere in the
world in a real-time setting. Enthusiastic buyer support of our
auction model is clearly evident from the increase in buyer
participation we have experienced, both at live auctions and via
the Internet. By encouraging more buyers to come on to our
bidding platform than ever before, we believe that during the
quarter we were able to generate more bidding activity and the
highest vehicle returns in the industry.” Continue reading ‘Insurance Auto Auctions Drives Record Returns for Its Customers’ »