ATLANTA – Manheim's newly released 2005 Used Car Market Report indicates that a record number of rental cars -- 1.5 million -- were sold at auction in 2004. In addition, wholesale used vehicle prices in 2004 increased over the previous year's prices for the first time since 2000, showing an annual increase of 1.8%.
Total auction volume fell by 3% in 2004 because of fewer off-lease units. But vehicle sales into the fleet segment (rental, commercial and government) grew by 9%, boding well for future wholesale volumes.
Manheim's 86-page report also features statistical and historical charts, as well as examples of how analysis and technology are improving how remarketing professionals can manage vehicle inventories. An online version of the report is available at www.manheimauctions.com.