According to the latest numbers provided by the National Auto Auction Association, auction volume is up nearly 7 percent year-to-date against comparable weeks of 2014.
The latest , prepared by NAAA economist Ira Silver and posted to the association’s website earlier this month, said year-to-date auction volume climbed 6.9 percent through three months of the year, with auction volume in March, specifically, up 4.5 percent.
On the retail side, that same report indicates that new-car sales are beating year-ago figures by 6 percent through three months.
Meanwhile, used retail sales seemed steady on both a monthly and year-to-date basis in March, says Manheim chief economist Tom Webb.
“Dealers retailing units in the $18,000 and above range did better than those selling lower-end units. CarMax posted a strong 7-percent increase in same-store retail used unit volumes and an average transaction price of $19,297 for their fiscal quarter ending February 28,” Webb said in the latest Manheim Used Vehicle Value Index report. “Manufacturer CPO sales also continued their record pace, up 8 percent in March and 11 percent year-to-date.”
Webb added: “Dealers selling lower-priced units were likely hampered by a less-than-stellar tax refund season. Since the start of February, the level of tax refunds has fallen below the year-ago amount in seven out of eight weeks. Through March, total refunds were down 1.1 percent, or $2.3 billion, from a year ago.”