Manheim says its wholesale auctions were up 40.3% YTD to the end of June, with May and June 2024 being the two best months by volume since the middle of 2020.
There was an almost even spread between passenger cars (33.2% of wholesale volume), SUVs (34.5%) and light commercials (32.3%). EVs and PHEVs accounted for a tiny 0.1%, with most fleet models still on their original owner.
The predominant source of vehicles sold at the Manheim national public auctions came from fleet management firms, government and corporate fleets, and dealer trade-ins.
Manheim also saw growth in OEM vehicles – late-model ex-company cars sold to dealers in closed auctions.
The Manheim Price Index is 134.2, down 9.1% year over year and 20% since mid-2022.
This means fleet sellers and wholesale buyers should note that average prices at the auctions have been down about 20% in two years, which is essential when setting reserves and procurement budgets.
The top five vehicles through the auctions over H1 were the Ford Ranger, Toyota Camry, Isuzu D-Max, Toyota Corolla, and Toyota Hilux. Sales of 2–4-year-old ex-fleet Toyota RAV4s grew 588.2% YoY as new supply improved and turnover kicked off. Most were hybrids.
