Editor's Note: This article has been contributed by John Kett, president and CFO of Insurance Auto Auctions (IAA).
Thirty years is a long time. In 1982 when IAA began, the salvage industry was defined by who showed up at auction; what they needed; and, ultimately, the number of vehicles sold. A great deal has changed since then.
Auto salvage is a dynamic and global business. It is impacted by several macroeconomic factors -global economy, auto sale price, driver behavior, weather, metal prices, and the U.S. dollar, to call out just a few. The complexity of this industry is evident when trying to understand how its influences are linked together.
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