As the firm does each quarter, AutoIMS shared its AutoIMS Industry View for the first quarter of 2022 on Thursday.

The company has described the report as a “compendium of metrics featured in the AutoIMS Sales Scorecard that reflects the AutoIMS database (with a few needed exclusions) — a vast majority of the commercial sales volume at wholesale auto auctions in North America.”

Below is a rundown on some of the key metrics from the most recent report.

Q1 conversion rates, which AutoIMS measures as the percent of vehicles sold on the day they were offered, fell on a year-over-year basis, dropping from 70.92% to 61.40%.

However, conversion rates showed some progress at the end of the quarter, climbing from a level below 60% in February to 65% in March. That’s still well below the 75% rate in March 2021.

Looking at vehicle sales volume, those remained down on a year-over-year basis during the first quarter, but the gap did narrow towards the end of Q1.

In January, the year-over-year difference in volume was north of 30%, but that gap improved, and in March, it was less than 20%, according to the AutoIMS data.

Average sale prices climbed from $14,340.92 in Q1 2021 to $16,356.31 in the most recent quarter, the company said.

In terms of gross sales price and a percentage of floor price (only including vehicles which had a floor price in AutoIMS), that metric fell from 101.5% to 98.3%.

Average vehicle grade, determined by the final condition report grade when the vehicle was sold, dropped from 3.07 to 2.96. Average mileage came in at 88,792, up from 78,820. The average damage on a vehicle jumped from $1,686.66 to $2,089.06, according to AutoIMS.

The average total time it took for a vehicle to go from arriving at the auction to selling fell from 28.6 days to 27.5.