Image: AutoIMS

All signs point to a more normal, albeit perhaps slightly delayed, spring rebound this year, according to a recent Report on industry performance for the 1st quarter prepared by AutoIMS, which analyzes details from its list of auction customers across the country.

Prices remained stable at an already elevated level, and the conversion rate (% of sales compared to those offered at auction) rose in March. The data resembles a trampoline – to get up, you must first go down.

The average car sales price rose to $ 16,356 in the first quarter of 2022 compared to $ 14,341 in the first quarter of 2021. Meanwhile, over the same period, the quarterly conversion rate fell to 61% from 71%.

So what’s down?

  • The conversion rate has been steadily declining from October to February
  • Achieving the minimum price did the same
  • Cycle times (transport; days for sale) both increased at the beginning of the year – i.e. drop in performance

Meanwhile, the seller’s investment in each car also declined, as evidenced by lower year-over-year costs in all categories of auction fees except gas (up 54%) and sales fees. These trends seem to confirm what other reliable sources suggest:

Originally posted on Car remarketing

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