Fleet/lease sales are one factor spurring the volume, with 5-year-and-below vehicle sales up 32% so far this year.
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The total U.S. supply of available unsold new vehicles opened May at 51% above a year ago, but volume is still down 26% from 2019 levels.
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The average used-vehicle listing price was $25,571, up slightly from the revised $25,536 at the start of April but down 6% from a year earlier.
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Wholesale flattens mid-month, while used retail vehicle sales rose slightly but are still down compared to last year.
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Veteran auto auction leader John Poteet will consult, advise, and teach at TPC Management and Auction Academy.
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The share of new-vehicle sales from luxury brands drove up average transaction prices, when combined with fewer discounts and incentives, caused new vehicle affordability to fall.
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The company recently auctioned off items for a charity celebrating the life of a former employee's daughter.
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The Manheim Used Vehicle Value Index (MUVVI) fell to 198.4, a decline of 14% from a year ago.
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Commercial fleet sales were down more than 14% last month, tying its January decline and continuing a string of monthly losses.
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An independent survey conducted for NAAA provides the most comprehensive picture available of the wholesale auto auction industry.
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