— Manheim released the 10th annual edition of Manheim’s Used Car Market Report (UCMR) on January 29 at the National Automobile Dealers Association convention.
The 86-page 2005 UCMR features insights, analysis, and forecasts on the remarketing industry, including commentary from Manheim chief economist Tom Webb and special sections on inventory management and the future of remarketing technology. For the first time, the Report also includes a series of case studies, each illustrating a different way remarketers have used Manheim data to find innovative solutions to problems.
Among the notable numbers contained in this year’s Report:
Wholesale used vehicle prices in 2004 increased over the previous year for the first time since 2000, with Manheim’s Used Vehicle Value Index showing an annual increase of 1.8 percent.
The total auction volume fell by 3 percent in 2004, as a result of fewer off-lease units.
A record number of rental units were remarketed at auction (nearly 1.5 million).
Certified used vehicle sales grew by 7 percent, a bright spot in an otherwise tough year for used car departments of franchised dealerships. In total, retail used unit sales declined 1 percent at franchised dealers. Independent dealers, meanwhile, saw sales volumes increase to a record 14.75 million units.
Vehicle sales into fleet (rental, commercial, and government) increased by 9 percent, boding well for future wholesale volumes.
Repossessions declined by 6 percent to 1.5 million vehicles, though future repossession levels are expected to rise due to a growing volume of loans outstanding as well as an increase in longer-term loans and higher loan-to-value ratios.
In addition to presenting valuable statistics and historical charts that cover every aspect of the industry, the 2005 UCMR focuses on the ways that improvements in data analysis and technology are enabling remarketing professionals to manage their inventories more effectively. Combining technology with the right information is enabling buyers and sellers to achieve their goals faster and more efficiently by cutting expenses, saving time, and consistently achieving a true market price for vehicles sold. Cooperation and partnering among people in the industry are allowing everyone to find solutions to common problems, sometimes through new technology, sometimes through different analysis of existing information and other times through the use of new processes and services. An online version of the UCMR is available at www.manheimauctions.com.