A widespread auction data report points to the key question of: will the overall upside market last?
The latest edition of the AutoIMS Industry View poses a remarketing rollercoaster, namely, are auction vehicle sales back on track?
Graphic: AutoIMS
Vehicle sales at auctions across North America kicked off 2023 stronger than expected with a slow rise in prices compared to the fourth quarter of 2022, according to the AutoIMS Industry View report released May 24.
But the catch was that the vehicles overall had more mileage, more damange, and a slightly lower grade.
The comprehensive auction data report from AutoIMS, an automotive remarketing technology firm based in Atlanta, aggregates data from 750+ auctions across North America that collectively take in vehicles from more than 1,000 consignors. The metrics data reflects most of the commercial vehicle sales volume at wholesale physical auto auctions in North America.
Among the highlight trends of the report:
The average sale vehicle price declined to $14,946 in Q1 2023 from $16,356 in the same quarter last year.
The conversion rate, percentage of vehicles sold on a day in which they were offered, reached 67% last quarter, up from 61% in Q1 2022.
The average vehicle grade at time of sale dipped slightly from 2.96 in Q1 2022 to 2.90 in Q1 this year.
The average mileage of a vehicle sold at auction snapped up to 91,211 in Q1 from 88,792 in Q1 2022.
The average damage estimate spiked up to $2,598 in Q1 of this year, compared to $2,089 in Q1 last year.
Total auction fees deducted from proceeds at sale settlement averaged $420 per vehicle in Q1 2023, up from $364 in Q1 2022.
Total time from auction arrival to sale rose from 27.5 days in Q1 2022 to 28.5 days in same quarter this year.
The lower vehicle conditions could be attributed to an increase in repossessions, which tend to be vehicles that owners do not adequately maintain.
Inflation had a partial effect on higher auction fees and charges.
Fleet activity is up year over year, more electric vehicles are being sold, and new vehicles sales show suprising strength.
While vehicles took a bit longer to sell after getting to auction early in the quarter, that trend has reversed. Vehicles now appear to be taking longer to reach the auction after being assigned.
More information:AutoIMS Q1 2023 Industry View Report
Originally posted on Automotive Fleet
The 2026 Conference of Automotive Remarketing convened with a mandate to involve a new constituency — fleet managers — and an updated mission to demonstrate unrealized value in de-fleeted vehicles.
Read More →
Franchised and independent dealers had a total of 1.95 million used vehicles in stock in March, the lowest on record in the current data set.
Read More →
Demand signals remain strong at auctions, with sales conversions, a clear sign of demand, reaching 68.2% in the most recent measure.
Read More →
From a Wall Street analyst's take on remarketing's key players to whether fleets need their own version of Carfax, CAR 2026's afternoon roundtables will answer key operational and industry questions.
Read More →
Work trucks lose value at remarketing, not because they aren't worth more, but because the data to prove it rarely makes it to the auction.
Read More →
New EV sales declined year over year in February while used EV demand rose, as prices fell and inventory tightened across both segments.
Read More →
A panel at the 2026 Conference of Automotive Remarketing will examine how resale value is created across the vehicle lifecycle and which traditional remarketing practices still deliver ROI.
Read More →
Solid demand at Manheim auctions with higher sales conversion rates indicate an appetite from dealers to buy.
Read More →
Smart operational and spec'ing decisions can dramatically improve both the total cost of ownership during use and the resale value when it's time to remarket day cabs.
Read More →
Smart remarketing begins before vehicles enter the fleet, and is built on strong data and stronger FMC partnerships.
Read More →
