The wholesale landscape is quickly evolving as auction volumes wane, dealers ease their reliance on buying vehicles in physical lanes and auction companies rebalance their traditional and digital offerings to stay on top of market shifts.
The coronavirus pandemic and resulting new- vehicle production snags have forced a prolonged disruption for auctions, dealers and others involved in the wholesale industry.
For auctions, vehicle volumes were roiled by shutdowns and fewer repossessions early in the pandemic; volumes are still being compressed as the pipeline of off-lease vehicles shrinks, rental companies keep vehicles in their fleets longer and consumers hang on to their cars longer.