Wholesale Auction Market Sees First Year-Over-Year Decline Since 2022, but EV Sales Surge
Wholesale auction sales totaled 540,200 vehicles in June, down 1.9% year-over-year—the first annual decline since December 2022—though year-to-date sales remain up 5.7% compared to 2024.
The June drop was driven largely by a 25% decline in sales of 3-year-old vehicles, many of which are off-lease units that dealers increasingly purchase before they reach auction, due to their attractiveness as cost-effective alternatives to new vehicles amid tariff concerns.
Sales of 4- and 5-year-old vehicles also fell 12.2%, while sales of 0–2-year-old vehicles rose 12.7%, though this was a slowdown from previous months due to fewer off-rental units.
Dealer and commercial sales through June are up 5% and 7.4%, respectively, though both are trending lower than earlier in the year.
Segment-wise, car sales saw the steepest decline at 14.7%, while EV auction sales surged 26.7% in June and are up 48.1% year-to-date, despite a slight dip from May.
Used-Vehicle Market Holds Steady as Demand Stays Strong and Affordable Options Shrink
Used-vehicle inventory across U.S. dealer lots remained stable at 2.21 million units in early July, showing little change from both the previous month and the same time last year, according to Cox Automotive.
Canadian Auto Market Sees Subcompact Surge and Truck Growth in H1 2025
In the first half of 2025, the new light vehicle market experienced some surprising shifts. Subcompact car sales rose sharply—up 50.5% overall and 94.5% in Q2—driven by growth in the Fiat 500E and strong sales of the Mitsubishi Mirage and Nissan Versa, despite historically low volumes.