Auction results have dictated the direction of the market since mid-2015, so we’ve been watching that channel the closest for any signs of shifting pricing. It looks like March will shape up to be a status quo month, with some upside pressure.

Estimated March auction performance of our benchmark model is as follows:

MY2013: $34,300 average; $209 (or 0.6%) higher than February

MY2012: $26,175 average; $2,570 (or 10.9%) higher than February

MY2011: $25,250 average; $984 (or 3.8%) lower than February

Volume of these model years should come in similar to February. 2012’s returned to a more typical level in March, following unusually low pricing last month. Overall, it looks like the market is continuing to firm up following a weak winter. Depreciation should be much more mild over the next few months. Stay tuned for final auction averages early next month.