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CAR 2025: A stirring combination of lower off-lease supply, constrained inventory, rental-fleet right-sizing, muted wholesale prices, and record EV sales are all contributing to an overall market still trying to catch up to pre-pandemic levels.
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NAAA member auctions hit 7.6 million sales in 2024 as volume growth offset lower prices for a $105 billion total sales value.
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Electric vehicle sales of all ages hit the highest tally ever recorded for any month-to-date, while sales of used rental cars spiked the under two years segment.
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Commercial sales were the primary reason for 2024’s increase in sales, with broad-based growth across rental, commercial, off-lease, and repo units.
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Despite a flattening curve due to fewer off-lease vehicles coming into channels, commercial sales rank highest in volume increases since 2023.
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The scholarship will cover the tuition cost for a two-year program student at Auction Academy, a continuing education resource and credential for remarketing professionals.
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The auction executive lead his company to become an industry-leading digital platform selling millions of vehicles each year.
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Monthly YOY and year-to-date sales point to a commercial fleet sector moving more vehicles into remarketing channels during the last six-plus months.
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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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Veteran auto auction leader John Poteet will consult, advise, and teach at TPC Management and Auction Academy.
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