By on April 21, 2020

2017 ford fusion, Image: Ford Motor Co.

At this point, only two things in our present reality bear any similarity to what took place in the Great Before: average new car transaction prices are shooting for the Van Allen Belt, and pickups sell like hotcakes. The relationship between 1 and 2 can’t be downplayed.

Everything else has been turned upside down by the coronavirus pandemic and the resulting plunge in sales spurred by both fear and state lockdown measures. Domestic market share is up, zero-interest loans are proliferating, and used vehicle prices are falling through the floor.

That latter issue could spell big losses for manufacturers whose main business is selling new vehicles. (Read More…)

By on October 6, 2018

We’ve discussed the issues facing used vehicle buyers a fair bit in the recent past, but September data shows the market’s quickly rising prices did not cool off with the arrival of autumn. Wholesale used vehicle prices continued to climb, with the Manheim Used Vehicle Value Index reaching its highest point in history.

Breaking down the numbers, it appears used car shoppers with the least amount of money to spend are seeing the greatest increases in price. It’s a cruel world out there. (Read More…)

By on July 31, 2017

used cars used car lot

Earlier this year, auto lenders assured us that the stagnating car market and an unprecedented number of off-lease vehicles flooding into used vehicle lots would coalesce into the perfect storm of unprofitability. However, despite stoking the flames of terror at the beginning of the year, automotive lenders are doing just fine.

We’re sure you’re all very pleased to read car financiers are still doing so well and have likely collectively exhaled a sigh of relief. But there’s more good news. Some of these companies aren’t just surviving, they’re thriving. Several have even reported record high profits, even though used car prices continue to fall. It may be time to pop the champagne corks, pour out the bubbly, and hoist our glasses for the financial institutions we all love so dearly. (Read More…)

By on January 27, 2014

Car Key with Leasing Tag on White

In 2013, 3.2 million new cars and light trucks were leased in the U.S., an almost threefold increase from 2009. The 2014 Manheim Used Car Report, produced by one of the larger used vehicle auction companies, says that the auto industry will have to change the way it remarkets cars if it is going to successfully handle the increased volume of off-lease vehicles.

According to Automotive Newsthe Manheim report also warns that dealers who take in off-lease vehicles on behalf of lessors (so called ‘grounding’ dealers, “will not be willing or able to acquire the same large share of off-lease units that they have in recent years.” (Read More…)

By on November 9, 2012

 

During the next several weeks you are going to be exposed to a lot of pointless hysteria about used cars prices in the Northeast.

Journalists will point out the extremes and the outliers to a media audience that is always easily attracted to the extremes and outliers of our society.

But it won’t be the truth. The real bump in traffic related to Hurricane Sandy won’t be with used cars at all.

It will be with new cars.

(Read More…)

By on May 8, 2011

There is one positive aspect to the Japanese tsunami: It seems to lift resale values. Manheim’s Used Vehicle Value Index just rose to another record in April, says Automotive News [sub]. Manheim has been keeping track of used car prices since 1995. Pushed by tighter supplies and higher demand, the index climbed to 126.6 last month, up from 124.2 in March and 120.7 in April 2010. (Read More…)

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