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Welcome to The Weekly, a roundup of the top five auto industry headlines of the week.
Manheim report shows more than 150K vehicles under $10K sold per month
Vehicles under $10,000 are turning quickly, with vAuto data showing just a 33-day supply in May, the lowest of any price segment. The good news for dealers is that new Manheim data shows there’s a steady supply of vehicles in that price range hitting the auction block.
Driving the news: A new report from Manheim shows the auction averages 150,000 transactions per month for vehicles under $10,000.
Valley Kia’s Internet Director on rebuilding a department, placing people in the right positions
When Nicolas Velez took over the internet director role at Valley Kia of Fontana in California, he found that the dealership’s vendor contracts hadn’t been tested in years.
He also felt the sales floor folks were working against each other, so he started making moves there.
Driving the news: First, Velez audited the vendors. He said he had many interviews, but ultimately, the majority were cut.
“Ever since then, we got leaner, meaner, and the dealership says we're running better,” Velez told Daily Dealer Live host Sam D’Arc.
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Dealers remain confident In the long game despite current frustrations, headwinds
Although auto dealers feel more pessimistic about near-term earnings than they've been in two years, according to The Presidio Group's Midyear 2026 Dealer Direction Survey, overall confidence for the industry remains strong.
Driving the news: From May 6 to June 15, Presidio's survey fielded answers from 269 dealers and dealership group executives that represent more than 4,200 franchised stores. Questions covered profits, valuations, brand sentiment, and the buy-sell market.
Wholesale Inventory to hit 12M in 2027
Used-vehicle wholesale inventory is expected to top 12 million next year for the first time since 2019, according to Cox Automotive Chief Economist Jeremy Robb’s forecast during the Manheim Q2 call on Wednesday.
Some context: The number of cars available on the wholesale market bottomed out at 8.4 million in 2022 due to pandemic production constraints. The rebound has been slow, from 10 million in 2023 to a forecast of 11.9 million this year.
Robb pointed out that the growth in the market for this year is coming in the second half of the year, with more rental, repos, and off-lease units entering the lane, while few dealer and factory units are available.
Dealership buy-sells surge in first quarter
With the third quarter on the clock, dealership buy-sell activity shows no signs of slowing down.
First-quarter reports from industry experts have been dropping over the past month or so, and they confirm that activity is on the rise, even if profits and blue sky values have dipped.
Driving the news: We’ve been hearing from all advisors how busy they’ve been this year, starting with Presidio Group, which we covered in April.
More recently, in its first-quarter Blue Sky Report, Kerrigan Advisors tallied 478 transactions in the trailing 12 months, the highest level they ever recorded. That figure also was 114% above the pre-pandemic five-year average.
