March Wholesale Auction Sales Show Strong Growth, Driven by Commercial and EV Segments
AuctionNet wholesale auction sales reached 620,600 units in March, marking a nearly 6% increase compared to March 2024 and the highest March performance since 2021.
First-quarter sales totaled 1.79 million units, up 4.9% from last year. Dealer auction sales rose 4.1% in March, while commercial sales saw a significant 12% increase, driven by a 40% rise in 2-year-old vehicles, mainly from off-rental units.
Rental fleet sales grew due to improved new vehicle availability and favorable pricing, while 3-year-old and 4-to-5-year-old vehicle sales declined.
Mainstream car sales dropped 12%, but mainstream utility and van sales grew by 10.6% and 27%, respectively.
Electric vehicle auction sales surged 15% in March, with Tesla leading, though Ford, Kia, and Volkswagen also saw substantial growth.
EV Sales Surge in March Despite Tariff Pressures and Tightening Inventory
In March, both new and used EV sales saw strong growth, with new EVs up 18.5% month over month and used EVs surging 45%. However, the new EV market share dipped slightly to 6.8% due to tightening inventory, influenced in part by recent tariff news.
2025 Toyota Ordering Now Closed Due to Early Sellout
Toyota has announced that all 2025 model year vehicles are now sold out, and ordering is officially closed. This early sellout was driven by a surge in orders following recent government announcements regarding tariffs.