Tuesday, October 19, 2010
Market Shift to Used Cars Leads to Surge in Vehicle Inspections
LONG BEACH, Calif. (October 18, 2010) — As U.S. auto sales have struggled during the ongoing economic crisis, many vehicle buyers are opting for used cars, a segment which reached 35.5 million sales last year. This trend is also reflected by an uptick in the number of vehicle inspections by buyers and sellers of used cars. Mannheim Consulting reports that the used-to-new car sales ratio was 3.4:1 in 2009, well above the 2.5:1 average of the previous decade, and expects the ratio to remain at or above 3-to-1 used-to-new for the foreseeable future. TrueCar.Com echoed that number, estimating the used-to-new ratio in September 2010 at 3.45:1. Independent used car dealerships posted an 8.2% year-over-year increase in sales volume between June 2010 and June 2009, according to CNW Marketing/Research and ADESA Analytical Services. This followed a 12.7% uptick in May 2010, when overall used vehicle sales volume was up 5.2%. With this higher percentage of used car sales activity, more buyers are looking to verify the quality of the vehicle, to protect them from the possibility of purchasing a “lemon.” Alliance Inspection Management, the nation’s largest commercial vehicle inspection company, has seen a steady rise in the number of private party inspections performed by its consumer division, AiM Mobile Inspections (www.aimmobileinspections.com), in less than a year of operation, in part due to the strong used car market. “Buyers want to understand the true condition of the car they intend to purchase, and sellers want to make sure that the buyers recognize the positive attributes of the car they are trying to sell,” said Jim Yates, president and CEO of AiM. “In today’s market, both buyers and sellers can get a reliable, up-to-date report of a vehicle based on an actual physical inspection, which goes beyond a potentially incomplete history report on a car’s condition. AiM helps buyers and sellers protect th\ir invstment with an affordable inspection prior to the sale.” AiM Mobile Inspections reviews new and used vehicles throughout the U.S. and Canada, employing a force of nearly 600 field inspectors who conduct comprehensive, 150-point vehicle inspections and provide a timely online report on each vehicle’s condition to the buyer or seller. The used car buying and selling experience has changed with the growth of online sales from geographically remote sellers and sites such as Autotrader and Craigslist. Internet-savvy buyers enjoy a broader selection of cars and sellers benefit from a larger pool of potential buyers. In this virtual online world, a professional inspection report from AiM becomes a vital part of the used car buying and selling process. “A vehicle inspection goes way beyond a vehicle history report,” said Yates. “The inspection report provides information on the current condition of the vehicle from a trained, unbiased, independent perspective. Most vehicle history report companies actually recommend that consumers not rely on the report alone and actually suggest that consumers get a professional inspection. With a vehicle inspection and a vehicle history report, a buyer can have the information they need to make a smart purchase.” For a seller, a positive car inspection report provides an affirmation their vehicle is in the condition they claim. In short, it brings peace of mind to buyers and credibility to sellers. About AiM AiM was founded on the premise that the automotive industry needed an employee-based inspection and audit company that could deliver consistent, quality work on time for customers, dealers and finance companies. AiM’s nationwide workforce of nearly 600 highly-trained inspectors embraces technology and a comprehensive, 150-point vehicle checklist to deliver process-driven accuracy and consistency with an emphasis on customer satisfaction. Quickly approaching their 50 millionth vehicle inspection, AiM’s significant growth in only five years is a testament to its goal of revolutionizing the vehicle inspection industry. For more information, please visit www.aiminspections.com or www.aimmobileinspections.com .