Trucks and utility vehicles have remained strong in spring auction lanes, even though Pacific coast auctions have seen the used vehicle market soften in the past month.
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The tax season had a late start in the southwest market. The boost in sales — which has been described as a steady increase as opposed to a spike this year — that auctions typically begin to see in February did not arrive until March.
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Southeast-region auctions are seeing a seasonal increase in values driven by tax-return-driven buying at dealer lots, but say the spring bump isn't as pronounced in 2017 in part due to the delay by the IRS to issue returns in late February.
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The 2017 Conference of Automotive Remarketing (CAR) was host to myriad panels, discussions, and keynotes that discussed the latest trends in the wholesale remarketing industry.
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Challenging winter weather led to a slight year-over-year decline in auction sales through January in the Midwest region of the U.S. However, as January concluded and February progressed, sales began to pick up.
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Large pickups and mid-size SUVs, especially those vehicles with all-wheel drive, sold particularly well in December and January in Colorado and Idaho, as a mild winter didn't affect Colorado, while heavy snow and ice muted auction activity in Idaho.
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By implementing one or two new strategies — such as timing sales based on mileage or seasonality, expanding sales channels, or considering purchasing options — small fleet operators can return more money to their fleet’s bottom line.
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As the Northeast region deals with what the Weather Channel has called Winter Storm Decima, certain trends at auctions across the nation remain consistent with locations in the region, such as the popularity of trucks and a decline in activity at auction as the result of the holidays.
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With Canadian membership its fastest growing segment, the IARA wanted to give credence to the “International” part of its name by holding its first Roundtable Conference outside the U.S.
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Auctions in the Pacific Northwest and across the northern tier of the U.S. have seen a healthy influx of Canadian units over the past two years as a result of a softening economy in western Canada and a weak Canadian dollar.
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