A first for Manheim: EV is No. 1 seller at auction for the month
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For the first time ever, an electric vehicle was the month’s best-selling vehicle at Manheim.
Another first: two EVs cracked the auction’s list of five best-sellers in a month.
That’s what happened in June, when the 2023 Tesla Model 3 ranked as the No. 1 seller for the auction company and the 2023 Chevrolet Bolt came in at No. 3, Cox Automotive senior analyst Scott Vanner said during the company’s recent quarterly call to discuss the Manheim Used Vehicle Value Index.
While still a small part of the wholesale market, this landmark reflects the growth in EVs both at Manheim and the overall auto auction industry.
In the second quarter, there were more than 21,000 sales of EVs at Manheim, which marks 108% year-over-year growth, said Jeremy Robb, senior director of economic and industry insights at Cox Automotive.
Electrics command a 2.1% share of Manheim sales, up from 1% a year ago, Robb said.
EV sales at Manheim during the first half of the year jumped 97%.
Looking at broader industry numbers, there were 9,501 auction sales of electric vehicles in June, which is up 89.5% year-over-year, according to AuctionNet data from the National Auto Auction Association.
Adjusted for selling days, EV sales volume was up 108%.
AuctionNet data indicates auctions have sold than 51,300 EVs year-to-date, which beats first-half 2023 numbers by 97%.
Over half of that volume (57%) is from Tesla, NAAA said. Closest behind is Chevrolet and Nissan, which combine for a 16% share.
The best-selling EV at auction in June, according to the AuctionNet data, was the 2021 Tesla Model Y, with 679 sales.
The 2023 Model 3 was second (651 sales), followed by the 2021 Model 3 (531), 2023 Chevrolet Bolt (295) and 2021 Model 3 (282), respectively, NAAA said.