AuctionNet wholesale auction sales reached 601,300 vehicles in May, up 3.5% from last May (selling day adjusted), according to monthly figures released June 12 from AuctionNet.

While up, May’s volume performance was far more muted than April’s strong 12.6% year-over-year rise. Monthly, sales fell 3.4% compared to April, which was the strongest month of sales since July 2020.

AuctionNet sales reached 3.05 million vehicles during the first five months of the year, up 7.1% versus 2024 (selling day adjusted). Year-to-date, sales are down 14% compared to the same period in 2019.

Dealer Auction Sales

Rising nearly 17% on a prior-year basis, dealer auction sales were buoyed by an influx of trade-ins in April stemming from consumer pre-buy activity in anticipation of higher prices due to tariffs. 

Given April's pronounced growth, May was likely to experience some correction in dealer volume. That's exactly what occurred. Dealer sales grew by a lesser 4.6% last month compared to May 2024, and they were down more than 7% compared to April (selling day adjusted). 

Commercial Auction Sales

Commercial sales growth also slowed last month from April’s 10.5% increase, with growth moderating to 4.5% on a prior-year basis and slipping 0.3% from April. 

Off Rentals Up, Off Leases Down, Repos Up

• Overall, sales of 1-to-2-year-old vehicles, which include a heavy mix of off-rental units, continued to grow appreciably last month, rising nearly 23% compared to last May and 19% versus April. 

• Sales of three-year-old vehicles, which include many off-lease units, fell 19% on a prior-year basis and 7% versus April. 

• Four- and five-year-old vehicle sales dropped 13.4% on a prior-year basis, while sales of vehicles 7-plus-years-old grew 8% year-over-year. Note that commercial sales for the latter group rose 14% year-over-year in May, reflecting continued repossession volume growth.

EVs Show Highest Percentage Sales 

Total electric vehicle sales reached 13,500 last month, up 48% compared to last May but down 9.5% from April’s 15,600 unit performance. Year-to-date, nearly 63,000 EV transactions have been reported by AuctionNet auctions, +53% versus 2024’s five-month tally (selling day adjusted).

Wholesale Used Vehicle Prices Flatter 

Wholesale prices rose 2% in April compared to March but gave up the same ground in May as prices dropped 2% versus April. While down, the fall was slightly better than the 2.7% month-over-month decrease recorded in May 2024. 

Prices in May were 5.6% stronger than in May 2024.

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