Auction houses, CarMax pull recalled Toyotas from sales

In response to Toyota's massive pedal recall, the country's biggest wholesale automobile auctions are parking the automaker's products until a fix is made. Major car auctions, like those run by Manheim and ADESA, are vital to the used car industry, and their decision will likely have an affect on both availability and residual value of many Toyota cars.

"The safety of our customers and employees is our utmost priority, and in that regard, the suspension should continue until the issues have been resolved," the National Auto Auction Association said in a statement released to the media.

ADESA and Manheim together control well over half of the wholesale auction industry in the United States.

The decision to pull recalled Toyotas from the auctions follows the footsteps of many major rental car agencies, which are not renting recalled Toyotas until a fix is made. Hertz, Enterprise (which runs Alamo and National), Avis Budget and Dollar Thrifty have all decided to stop renting Toyotas until a fix is made.

Used car retailer CarMax has also decided to temporarily halt selling all new and used Toyotas that would be covered under the recall.