Welcome!

News Feed Item

Manheim's 19th Annual Used Car Market Report Examines All Facets of an Industry in Transition

Manheim Chief Economist Tom Webb Analyzes Industry Trends, Outlook for 2014

NEW ORLEANS, Jan. 25, 2014 /PRNewswire/ -- With labor market and credit conditions continuing to improve and expected to maintain an upward trajectory in the year ahead, the environment is ripe for sustained vitality in the new, used and wholesale marketplaces.

These and other trends are explored in detail in Manheim's 19th annual Used Car Market Report, unveiled today by Manheim chief economist Tom Webb at the National Automobile Dealers Association convention.

Looking ahead, Webb said 2014 will reveal "the next evolution of the wholesale marketplace," as declining margins, increasing wholesale volumes and rising market pressures will require new tools and strategies. For auction participants, this means the ongoing adoption of technologies that allow them to buy and sell vehicles through online platforms that provide simultaneous, multi-platform buying and selling opportunities.

In an introductory letter in the report, Manheim President Sandy Schwartz said the transformation of the remarketing industry is something the company embraces, pointing to the innovative new services offered by the company to facilitate the buying and selling process. "In the face of these changes, our goal at Manheim is to provide a trusted marketplace for buyers and sellers, enabling wholesale participants to appraise, finance, buy, sell, manage and transport inventory in the most efficient ways possible."

The 42-page report, co-written by Manheim Consulting Director Scott Hatmaker, examines data and trends in all sectors of the used car marketplace, including chapters on dealers, rental, leasing, repossessions, fleets, international wholesaling and salvage auctions.

Among the highlights:

Dealers

  • New vehicle sales increased for the fourth consecutive year, and franchised dealers sold a record number of certified pre-owned vehicles.
  • Increased financing availability balanced out inventory acquisition challenges for independent dealers.

Rental

  • New vehicle sales into rental were their highest since 2007.
  • Low fleet depreciation and inventory funding costs led to another record year despite a 1% decline in revenue per vehicle.

Leasing

  • New lease originations were up to 3.2 million, highest since 2000.
  • Increasing off-lease volumes in the years ahead will pose challenges for remarketers and opportunities for dealers.

Repossessions

  • Repo volumes increased 5%, totaling an estimated 1.37 million vehicles.

Fleets

  • Commercial and government fleet vehicle purchases increased for the fourth straight year.
  • New vehicle sales into fleets are expected to level off near 900,000 by 2015.

International

  • Wholesale volumes and prices increased in the U.K., while at the retail level both new and used vehicle prices improved.
  • Emerging markets such as China and India will experience rapidly increasing used car sales in the years ahead.

Salvage

  • Prices and volumes increased modestly at salvage auctions in 2013.
  • An increasing number of dealers are purchasing and repairing salvage-titled vehicles to sell to retail buyers.

The Report is available in PDF format by visiting the Used Car Market Report tab within the Manheim Consulting site, located at www.manheim.com/consulting. Members of the media may request a Report by contacting Lois Rossi at Manheim at [email protected].

About Manheim (www.manheim.com)

Manheim is the leading global provider of vehicle remarketing services, connecting buyers and sellers of used vehicles to the largest wholesale used-vehicle marketplace. The company helps dealer and commercial customers achieve results by providing physical and digital auction channels, data analysis, financing, transportation, and mobile products and solutions.

Manheim pioneered in-lane vehicle auctions and has been an innovator in both digital and mobile auction platforms. Manheim registers nearly 8 million used vehicles annually, facilitating transactions representing more than $50 billion in value. Manheim's research and consulting arm, Manheim Consulting, provides industry-leading market intelligence and publishes the widely recognized annual Used Car Market Report. The company offers dealer financing through NextGear Capital, Inc., and transportation services through Ready Auto Transport.

Headquartered in Atlanta, Manheim has more than 20,000 employees in 107 worldwide sites and generates annual revenues of more than $2.5 billion. A subsidiary of Cox Enterprises, Manheim participates in "Go Green with Manheim," the company's sustainability program.

CONTACT: Lois Rossi
Sr. Director, Corporate Communications
(678) 645-2028

SOURCE Manheim

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
The dynamic nature of the cloud means that change is a constant when it comes to modern cloud-based infrastructure. Delivering modern applications to end users, therefore, is a constantly shifting challenge. Delivery automation helps IT Ops teams ensure that apps are providing an optimal end user experience over hybrid-cloud and multi-cloud environments, no matter what the current state of the infrastructure is. To employ a delivery automation strategy that reflects your business rules, making r...
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software. They hope to capture value from emerging technologies such as IoT, SDN, and AI. Ultimately, irrespective of the vertical, it is about deriving value from independent software applications participating in an ecosystem as one comprehensive solution. In his session at @ThingsExpo, Kausik Sridhar, founder and CTO of Pulzze Systems, will discuss how given the magnitude of today's applicati...
Smart cities have the potential to change our lives at so many levels for citizens: less pollution, reduced parking obstacles, better health, education and more energy savings. Real-time data streaming and the Internet of Things (IoT) possess the power to turn this vision into a reality. However, most organizations today are building their data infrastructure to focus solely on addressing immediate business needs vs. a platform capable of quickly adapting emerging technologies to address future ...
SYS-CON Events announced today that Ryobi Systems will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Ryobi Systems Co., Ltd., as an information service company, specialized in business support for local governments and medical industry. We are challenging to achive the precision farming with AI. For more information, visit http:...
As popularity of the smart home is growing and continues to go mainstream, technological factors play a greater role. The IoT protocol houses the interoperability battery consumption, security, and configuration of a smart home device, and it can be difficult for companies to choose the right kind for their product. For both DIY and professionally installed smart homes, developers need to consider each of these elements for their product to be successful in the market and current smart homes.
SYS-CON Events announced today that Golden Gate University will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Since 1901, non-profit Golden Gate University (GGU) has been helping adults achieve their professional goals by providing high quality, practice-based undergraduate and graduate educational programs in law, taxation, business and related professions. Many of its courses are taug...
What is the best strategy for selecting the right offshore company for your business? In his session at 21st Cloud Expo, Alan Winters, U.S. Head of Business Development at MobiDev, will discuss the things to look for - positive and negative - in evaluating your options. He will also discuss how to maximize productivity with your offshore developers. Before you start your search, clearly understand your business needs and how that impacts software choices.
Enterprises are adopting Kubernetes to accelerate the development and the delivery of cloud-native applications. However, sharing a Kubernetes cluster between members of the same team can be challenging. And, sharing clusters across multiple teams is even harder. Kubernetes offers several constructs to help implement segmentation and isolation. However, these primitives can be complex to understand and apply. As a result, it’s becoming common for enterprises to end up with several clusters. Thi...
SYS-CON Events announced today that Avere Systems, a leading provider of hybrid cloud enablement solutions, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Avere Systems was created by file systems experts determined to reinvent storage by changing the way enterprises thought about and bought storage resources. With decades of experience behind the company’s founders, Avere got its ...
Microsoft Azure Container Services can be used for container deployment in a variety of ways including support for Orchestrators like Kubernetes, Docker Swarm and Mesos. However, the abstraction for app development that support application self-healing, scaling and so on may not be at the right level. Helm and Draft makes this a lot easier. In this primarily demo-driven session at @DevOpsSummit at 21st Cloud Expo, Raghavan "Rags" Srinivas, a Cloud Solutions Architect/Evangelist at Microsoft, wi...
Containers are rapidly finding their way into enterprise data centers, but change is difficult. How do enterprises transform their architecture with technologies like containers without losing the reliable components of their current solutions? In his session at @DevOpsSummit at 21st Cloud Expo, Tony Campbell, Director, Educational Services at CoreOS, will explore the challenges organizations are facing today as they move to containers and go over how Kubernetes applications can deploy with lega...
As you move to the cloud, your network should be efficient, secure, and easy to manage. An enterprise adopting a hybrid or public cloud needs systems and tools that provide: Agility: ability to deliver applications and services faster, even in complex hybrid environments Easier manageability: enable reliable connectivity with complete oversight as the data center network evolves Greater efficiency: eliminate wasted effort while reducing errors and optimize asset utilization Security: imple...
High-velocity engineering teams are applying not only continuous delivery processes, but also lessons in experimentation from established leaders like Amazon, Netflix, and Facebook. These companies have made experimentation a foundation for their release processes, allowing them to try out major feature releases and redesigns within smaller groups before making them broadly available. In his session at 21st Cloud Expo, Brian Lucas, Senior Staff Engineer at Optimizely, will discuss how by using...
Today most companies are adopting or evaluating container technology - Docker in particular - to speed up application deployment, drive down cost, ease management and make application delivery more flexible overall. As with most new architectures, this dream takes significant work to become a reality. Even when you do get your application componentized enough and packaged properly, there are still challenges for DevOps teams to making the shift to continuous delivery and achieving that reducti...
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lead...