Wed, 03 Aug 2011 Business & Finance

US salvage auto company ventures Ghanaian market

iaai auction cariaai auction car

Insurance Auto Auctions (IAA), a leading salvage auto auction company in the United States has ventured the Ghanaian market, with the hope of creating jobs and adding value to the transport and automobile industry.

The company specializes in selling lightly damaged and repairable vehicles to buyers all over the world through competitive bidding.

Through the internet, prospective buyers in Ghana can participate in the live auction process and bid in real time for the thousands of vehicles auctioned across the US and Canada.

Insurance companies, rental fleet, leasing companies and other vehicle owners in the United States prefer selling their vehicles as salvage to repairing them because it is more cost effective – it often costs more to repair damaged vehicles than liquidate them.

IAA officials have been holding presentations for Ghanaian automobile companies and individuals interested in making money from importing cars from the US.

Vice President, Global Buyer Marketing, Dan Oscarson, tells Luv Biz Report importing, repairing and selling repairable vehicles in the local market provides opportunities to make significant profits due to low labor cost.

He says individuals and dealers in automobile can buy high quality cars for an exceptional price through auctions sales in the US.

“In the United States, we have a huge supply of cars available; here in Ghana, we see a huge demand for the products and by bringing the big supplier of cars and the big demand for those who want a car together, we believe that we can help people in Ghana to have affordable transportation with excellent cars from the United States.

“Our being here and promoting our vehicles in this market will help create jobs… we are going to create jobs in the repair industry and also in the after-market parts industry – all of those industries are going to benefit as these cars come into the country”, the IAA official stated.

Ghanaian automobile firm, Anoboat Company Limited has been accredited as an IAA Authorized Representative to offer support services in the local market.

Chief Executive Officer Kofi Anokye Boateng says his company is promoting transparency in the sales of cars from the US, stating that it is cheaper and safer to purchase a car through the auction process.

Story by Kofi Adu Domfeh/Luv Fm/Ghana

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