Auction sales volume up 6 percent% in June
Auction sales volume wasn't quite as heavy in June as it was in May, but there was still a good bit more units pumping through the lanes this June than last. And through the first half of the year, the late-model segment, in particular, is up close to 8 percent.
According to the latest Guidelines report from J.D. Power Valuation Services, there were 373,188 sales of cars up to 8 years old at auction last month. This is down 4.7 percent from May, but beats year-ago figures by 6.4 percent, J.D. Power said.
And this trend is even more pronounced (in either direction) for late-model vehicles, or cars that are 3 years old or younger.
J.D. Power found that there were 244,116 auction sales of late-model units last month, which is down 5.7 percent month-over-month.
While the report did not provide a year-over-year comparison for June, it did note that year-to-date auction sales volume for late-model units which came in at a staggering 1.46 million is up 7.9 percent compared to the opening half of 2016.
The segment leading the late-model surge is the midsize car, J.D. Power said. Its year-to-date auction sales volume through June is up 4.5 percent at 297,291 units. The firm said these cars "accounted for the lion's share of industry volume."
Another high-riser is the late-model compact utility vehicle, whose volume is up 28.2 percent at 218,094 units.