Quarterly Auction Industry Metrics Point to Spring Bounce

Image: AutoIMS

All signs point to a more normal, although perhaps slightly delayed, spring bounce this year, according to a recent 1Q industry metrics report prepared by AutoIMS, a firm that analyes detailed data from its roster of auction clients nationwide.

Prices remained steady at already-elevated levels, and conversion rate (% sold vs offered at auction) bumped up in March. The data resembles a trampoline -- to go up, you must first go down.

The average vehicle sales price rose to $16,356 in 1Q 2022, compared to $14,341 in 1Q 2021. Meanwhile, over the same period, the quarterly conversion rate dipped to 61%, compared to 71%.

So, what’s down?

  • Conversion rates dropped steadily from October through February
  • Floor price achievement did the same
  • Cycle times (transport; days to sell) both crept up at the start of the year – ie. a drop in performance

Meanwhile, the seller investment in each car also trended down, as evidenced by lower YoY expenses in all auction charge categories except gas (up 54%) and sale fees. These trends seem to confirm what other reliable sources are indicating:

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