AuctionNet wholesale auction sales reached 620,600 units in March, up nearly 6% versus March 2024, with both months offering the same number of selling days.

Sales also improved compared to February, rising 4% on a selling day-adjusted basis. In absolute terms, March’s sales performance was the highest for the month since March 2021. Wholesale auction sales during Q1 2025 totaled 1.79 million units, up 4.9% versus 2024’s Q1 total. 

Dealer auction sales rose a tepid 0.6% year-over-year in February, but growth jumped to 4.1% in March, while commercial sales finished the month 12% higher than last year. The rise in commercial sales was primarily due to a large 40% year-over-year increase in 2-year-old vehicle volume, mainly comprised of off-rental units. 

The increase in rental wholesale sales stems from two primary factors: 

1. First, wholesale growth resembles the improvement in new rental fleet sales that occurred after the industry moved past the semiconductor and supply chain issues from a couple of years ago. 

2. Second, rental companies are swapping out larger numbers of older in-service vehicles to take advantage of the more favorable pricing and residual value outlook of 2025 units.

For other age groups, 3-year-old and 4-to-5-year-old vehicle sales fell by an average of 10.7% yearly in March. 

For off-lease volume specifically, 3-year-old auction volume for lease-heavy brands grew more than 50% in 2024, but volume is down about 15% year-to-date versus Q1 2024. 

The drop is not surprising, given that new lease originations, most of them for a 36-month term, tumbled in late 2021 and 2022 due to the chip shortage and other supply-chain-related issues. 

Mainstream car sales (e.g., compact and mid-size cars) fell more than 12% in March on a prior-year basis, bringing their year-to-date change to -11% versus Q1 2024. Mainstream utility sales grew over the quarter, rising by 10.6%. Van sales grew most over the quarter, rising nearly 27%, mostly due to many Chrysler minivans sold at auction.

Total electric vehicle auction sales exceeded 12,400 units in March, which was 15% higher than recordings for the group in any month so far and 38% more than in March 2024. Tesla models comprise the lion’s share of EV auction sales (Tesla sales increased 28% YOY through Q1). Still, Ford, Kia, and Volkswagen EV sales grew substantially during Q1, rising by a combined average of 146% versus Q1 2024.

Monthly AuctionNet data is derived from 265 NAAA member auctions that use AuctionNet, and is considered the most comprehensive source of wholesale auto auction sales data in the U.S.