While the upswing in 2024 isn’t likely to be as strong as last year’s, the wholesale vehicle market is showing a gradual rebound in volumes and has started the year with some impressive gains.

At the Manheim auto auction chain, wholesale sales climbed in 11 of the first 13 weeks of the year and were up 15% year-over-year in the first quarter, said Jeremy Robb, senior director of economic and industry insights at parent company Cox Automotive.

Year-to-date through February, there were ...