Manheim Report Shows Fleet Auction Values Up 18% From 2010
ATLANTA – Manheim Consulting released its 2011 Mid-Year Used Car Market Report, which provided some statistics related to auction values of fleet vehicles that the company cited in a news release.
According to Manheim, the average auction value of a mid-size commercial fleet vehicle was more than $9,700 in the first half of 2011, which was up 18 percent from 2010. Manheim said average fleet vehicle mileage declines 7 percent to just less than 65,000 miles.
“It is fair to say that few of us have ever witnessed a period like the first half of 2011,” Manheim president Sandy Schwartz writes in the Report’s introductory letter. “Early in the year, it seemed that the economy was following a predictable, if slow, recovery path. Credit was easier, and as more customers could afford to buy a used vehicle amid tight supply, wholesale prices moved higher. In the second quarter, we witnessed the combined impact of high fuel prices and the Japanese earthquake and tsunami on the used vehicle markets.”
You can find the 2011 Mid-Year Used Car Market Report on Manheim Consulting's site (click the link to visit, though the report requires payment to view it).