Tom Webb
Chief Economist
Manheim Consulting
Manheim’s 19th annual Used Car Market Report was released at NADA convention. Improvements in the labor market and credit conditions point to sustained vitality in new, used, and wholesale marketplaces. Auction participants are going through more pressure to adopt technologies allowing them to buy and sell vehicles through online, simultaneous multi-platforms.
Here’s the press release with details on Manheim 19th annual report
Franchised Dealers Saw 4th Year of New Vehicle and CPO Sales Increases:
Increased financing balanced out inventory acquisition challenges for independent dealers.
New Lease Originations Were Up to 3.2 Million, Highest Since 2000:
Increasing off-lease volumes will pose challenges for remarketers and opportunities for dealers.
New Vehicle Sales to Car Rental Companies Were their Highest Since 2007:
Low fleet depreciation and inventory funding costs led to another record year.
