5/21/2024 Weekly Market Updates

5/21/2024 Market Update

Here is a quick recap of industry related headlines over the last week:

• The overall market experienced an acceleration in the rate of decline last week, with all but two segments reporting a decrease in value.
• Although there was some reduction in auction inventory, the volumes being sold by the larger sellers, especially in the OEM lanes, are reminiscent of those seen pre-COVID.
• The Used Retail Days-to-Turn estimate is now sitting around 40 days.
• Average auction sales rate this week was 56%, down –1% from previous week.

Read this week’s report to find out more