October Wholesale Auction Sales: Yearly Growth Continues Amid Regional and Segment Shifts
Wholesale auction sales in October reached over 621,500 units, up 11.6% year-over-year (adjusted for selling days) but down 1.6% compared to September, with a sharp 7.7% decline in the hurricane-impacted Southeast. However, sales in Florida, Georgia, and North Carolina rebounded in late October, offsetting initial declines. Dealer sales rose 6.9% year-over-year but fell 4.1% month-over-month, while commercial sales grew 18.4% year-over-year and 1.8% from September. Sales of 1- to 5-year-old vehicles increased 11.2% from last October, reflecting strength in off-lease, rental, and fleet units, though overall month-over-month growth was modest. Segment-wise, CUV/SUV and pickup sales surged 21% year-over-year, while luxury vehicles rose 16%, driven partly by EVs, whose sales grew 50% year-over-year despite slowing monthly growth. EVs comprised 1.6% of total AuctionNet sales through October, highlighting their growing market presence.
Announcement: New MY25 Honda Accord Hybrid Now Available!
Honda has confirmed availability for the MY25 Honda Accord Hybrid, with production slots open for January and February.
(UPDATED) GM Fleet Order Cutoffs
Please be advised that the fleet order cut-off date for the 2025 Model Year Chevrolet Equinox (ICE) and GMC Terrain is scheduled for November 22, 2024.