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The National Auto Auction Association (NAAA) estimates that its members sold 9.9 million vehicles in 2016, a 6% improvement over the year before, according to Manheim’s 2017 Used Car Market Report.
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On a year-over-year basis, 2017 started the same as all of 2016 — trucks and vans up and cars down, according to Manheim. New vehicles sales into rental declined by approximately 7% in January compared to January 2016.
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In December, the average mileage on rental risk units sold (38,600 miles) was similar to recent months, but it was 13% lower than a year ago, according to Manheim. The Manheim Index for December finished at 124.9, a decline of 0.6% year-over-year.
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Wholesale used vehicle prices declined 1% in November, continuing the downward trend that was 0.7% last month, according to Manheim's Used Vehicle Value Index.
Read More →Wholesale used-vehicle prices declined in October 0.7% and non-seasonally adjusted prices declined 2%, showing a downward trend for all vehicle segments in recent months.
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Wholesale used vehicle prices remained unchanged between August and September, remaining at 126.9 for September, which is a 1.7% increase from a year ago.
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This could be a sign that stop-sale/stop-use units are being repaired and creating less demand for loaner vehicles, says Manheim.
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Auction prices for rental risk units sold in July jumped 21% from a year ago because of lower average mileage and a richer mix of units sold, according to Manheim. Wholesale used vehicle prices increased for the fourth consecutive month.
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Manheim Index surge is driven by strength in pickups and vans — and rental risk units with substantially lower mileage.
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Auction prices for rental risk units declined again in May, but the year-over-year decline was less than in April and March, according to the Manheim Index. The average mileage fell to its lowest level since September 2014.
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