Used Vehicle Sales Weaken in January, Reports Manheim

Price changes for selective market classes for Jan. 2014 versus Jan. 2013. Courtesy of Manheim.
Price changes for selective market classes for Jan. 2014 versus Jan. 2013. Courtesy of Manheim.

Wholesale used vehicle prices (on a mix-, mileage- and seasonally adjusted basis) rose 0.5% in January. According to Manheim Consulting, the Manheim Used Vehicle Value Index reading was 122.3 in January, which represented a 0.9% decline from a year ago.

In January, new cars and light-duty trucks sold at a seasonally adjusted annual rate (SAAR) of 15.2 million in January, down from 15.4 million in December and 15.6 for the full year of 2013. Dealers, manufacturers and analysts all cited extreme weather conditions during January as a contributing factor to weaker-than-expected sales, says Manheim.

According to CNW, used retail sales in January were down 0.7%, but that was against a strong year-ago pace. And franchised dealers were able to post a 2.4% gain in sales during January, despite weather-related headwinds. CPO sales again played an important role.

When measured as a straight average, prices for end-of-service rental risk units fell in January relative to December, but prices were up after adjustments for changes in mix and mileage, says Manheim.

Off-rental volumes were up from December’s low level, but down from a year ago. New vehicle deliveries into rental in January were off more than 15% due to delays in some shipments, says Manheim. As those deliveries get back on schedule in February, so too should off-rental volumes.

The average mileage on rental risk units sold at auction increased by 10% year-over-year to more than 40,000 miles, the highest level since February 2011, according to Manheim.

January Used Vehicle Index courtesy of Manheim.
January Used Vehicle Index courtesy of Manheim.

Comment On This Story

Name:  
Email:  
Comment: (Max. 10000 characters)  
Please leave blank:
* Please note that every comment is moderated.

 
 

Newsletter: Sign up to receive latest news, articles, and much more.

Read the latest

Auto Focus Blog: A blog covering fleets, auto rental and the business of cars

Safeguarding Your Business with Brokers

While the high-profile bankruptcy of Atlas Choice has left many car rental companies wary of working with brokers, rental companies can take steps to protect themselves and ensure a productive relationship.

My Number One Takeaway from ICRS 2017

This year’s International Car Rental Show (ICRS) opened the door to new business models facing transportation today — yet adapting to these new technologies is not the first key to survival.

Trump and Regulations: An Alt-Fuel View

With 2025 emissions targets back in review, manufacturers, alt-fuel, and alt-power suppliers weigh in on the potential impacts of Trump’s initiatives.

Job Finder: Access Top Talent. Fill Key Positions.

>