August Sale Trends For The U.S. Market?

PLUS: The worst sales day of the year?

The Daily Vroom

Good Morning Vroomers!

Today's Daily Vroom is all about the numbers, folks. We're diving deep into sales data and asking:

Is what we're seeing on the platforms a real trend or just market hiccups?

See you tomorrow,

Sam

MARKET LEADERBOARD

💰 The figures shared below don’t count any other sales such as car seats, memorabilia etc… All online auction sites are analyzed to put this leaderboard together.

I only include websites that have sold 5+ vehicles in the chart below.

Brutal day yesterday—no way around it. One of the worst sales days we’ve seen in a long, long time, barely hitting $4.5M in total sales. The average sale price? $31K—that’s a full $10K below our usual daily average.

What’s going on? Has the market shifted since the holiday weekend? Those reserve sell-through rates on BaT and Cars & Bids are way off from what we normally expect. And let’s be real, the top 5 sales below are far from breaking the bank.

But hey, as you know here in The Daily Vroom, we always take these things with a grain of salt. One day, or even one week of sales, doesn’t define the entire market. We’ll keep a close eye on the numbers, dive into the different models, and report back. What’s really worth noting is how last month’s numbers stack up against this time last year. Check out what we’ve uncovered below…

YESTERDAY’S TOP 5 SALES

Want to dive deeper into any of these listings? Just click on the car to take you directly to the listing.

2023 Ferrari SF90 Stradale $399,000

1963 Volkswagen Type 2 23-Window Deluxe Samba $190,000

1997 Ferrari F355 Berlinetta 6-Speed $145,000

1966 Porsche 912 Coupe 5-Speed $141,000

2022 Porsche 718 Cayman GT4 $118,750

August Sales

In August 2024, we saw just over $190 million worth of vehicle sales, compared to $184 million in August 2023 - that's a nice 3.26% increase year-over-year. One of the standout performers was BaT, which saw a big jump from $119 million in August 2023 to $135 million in August 2024 - that's an impressive 13.45% increase.

However, not all platforms experienced the same level of growth. Cars & Bids, for instance, saw a relative decrease, selling $16.7 million worth of vehicles in August 2023, compared to $12.4 million in August 2024 - a 25.75% decline. This suggests they may need to focus on driving more high-quality listings to capitalize on their strong sell-through rate.

Hagerty and Hemmings also struggled, dropping by around 33% and nearly 49% respectively. As we've discussed previously, this could be attributed to their lack of a singular focus, which permeates into the way they approach the market. Without a clear, defined value proposition, they’re struggling to keep up.

PCarMarket also experienced a decline, going from $6.6m in August 2023 to $5.7m in August 2024 - a 12.7% drop.

What do you think platforms need to do to reverse the recent sales declines?

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Below you can see some of the premium makes average sale prices for each decade in August 2023 vs August 2024.

SBX's Silent Supra: What Went Wrong?

Alright, so there's this wild 1994 Toyota Supra VeilSide Custom up for auction on SBX Cars right now. It's a one-off build by some guy named Christian Coujin, and it's pretty insane:

  • Full VeilSide Fortune '03 body kit

  • Custom Nogaro Blue with Violet Pearl paint

  • Souped-up 2JZ-GTE engine pushing about 550 hp

  • Tons of HKS and Blitz performance parts

  • Decked-out interior and audio system

Sounds cool, right? But here's what's bugging me - this auction ends today, and it's only got 4 bids, from just two bidders! What gives?

I'm not trying to pick on SBX here. I actually want them to do well. But this doesn't make any sense to me. I did a quick search on SupercarBlondie's social media - you know, the one with over 100 million followers? Can't find a single mention of this car. Why not?

It's not like SBX has a ton of auctions ending tomorrow. This Supra is literally the only one. You'd think they'd be shouting about it from the rooftops.

I really want to understand what's going on here. Is it just poor marketing? Is the car not as special as they're making it out to be? Or is there something else I'm missing?

This whole situation just doesn't add up for me. If SBX wants to compete in the online car auction game, they've got to do better than this. Am I crazy for thinking this car should be getting way more attention?

Why do you think this unique Supra auction on SBX Cars is underperforming?

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