Quick Look at January Auction Volume

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McLEAN, Va. and FREDERICK, Md. –
Against comparable weeks of 2014, overall auction volume was up 10.7 percent in January, according to the latest Economic Dashboard compiled by NAAA economist Ira Silver.
And when drilling down into the group of vehicles up to eight years old — whose volumes were up 8 percent year-over-year on a like-age basis, according to NADA Used Car Guide — there’s an interesting segment trend that surfaces.
In its latest Guidelines report, NADA said much of that increase was due to spiking volumes of 1-year-old vehicles, most of which were off-rental cars.
In fact, auction volume of 1-year-old vehicles (2014 model-year vehicles) in January was roughly 23 percent higher than the number of 1-year-old cars (so, 2013 model-year) in the same month last year.
“The group’s total volume of 71,000 was also the highest among its model year peers,” NADA Used Car Guide’s Jonathan Banks added in the report.