Fleet/lease sales were responsible for the increase in auction volume in the first quarter as dealer sales fell 5.4% YOY and fleet/lease sales rose nearly 29%.
Insights from the "cereal box" workshop at the 2022 Conference of Automotive Remarketing show how consignors and auctions can be creative in accurately pricing wholesale vehicles.
The company's second quarterly report in a row highlights key aggregate metrics for the auction industry.
There was a significant drop in sold volume (both month-over-month, and year-over-year) in wholesale channels from September to November of 2020.
The amount of vehicles in auction that are 5 years old or newer increased 0.3% year-over-year in June, according to J.D. Power's July 2019 Used Car and Light Truck Guidelines.
All vehicle segments, except for large utility vehicles experienced a decline in auction volume through the month, the report added.
Auction volume was down 2.3% year-over-year for units up to five years old, and on a month-over-month basis, volume was down 16.3%, according to J.D. Power’s July Used Car and Light Truck Guidelines.
Wholesale prices for used vehicles up to 8 years old fell 1.7% month-over-month in May, a level that’s typical for this time of year, according to J.D. Power’s June Used Car and Light Truck Guidelines. Auction volume up 12% month-over-month, 2.6% year-over-year.
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