Hurricanes Impact October Auction Sales, Volumes Still Up
October auction sales saw an 11.6% year-over-year increase in wholesale units, despite disruptions caused by recent hurricanes in the southeastern U.S. Auto Remarketing reported the data as part of a new collaboration with the National Auto Auction Association.
While the weather events created some short-term market challenges, the overall volume growth reflects a resilient auto auction market. The year-to-date numbers show a steady increase of 10%, and the industry is optimistic that the recovery will continue as supply chain disruptions ease. This positive performance signals strong demand for both new and used vehicles despite external challenges, experts said.
“Note that auction sales in Florida, Georgia, and North Carolina were equal to if not slightly higher over the second half of October than they were in the lead up to Hurricane Helene at the end of September (indicating that deferred sales were made up over the back half of October),” said Larry Dixon, NAAA’s vice president of Auction Data Solutions/AuctionNet.
