Wholesale and retail volumes and prices increased and the rental industry revenue set a record at $27.1 billion. These and other trends are explored in depth in Manheim’s 21st annual Used Car Market Report.
“Whether you’re measuring unit sales, revenues, operating efficiency, or profits; whether you’re focused on retail or wholesale; or whether you’re interested in new or used, it was another good year for the automotive industry,” said Cox Automotive Chief Economist Tom Webb in the report’s Year in Review chapter. “All indications are that the good times will continue to roll awhile longer.”
Key to that success will be the continued rollout of products and services that increase speed and efficiency, a theme explored throughout the report and emphasized by Manheim North America President Janet Barnard in her introductory letter.
“As we look ahead to 2016 and beyond,” she said, “Manheim will strive to create greater levels of efficiency, enhance the client experience, and partner with clients for success. We recognize that efficiency is the new currency for our business. It is critical, especially in light of client demand for speed and delivery, to support their profitability and future growth.”
As usual, the report provides a comprehensive look at multiple segments of the automotive industry, along with a series of brief case studies and interviews with key industry players. Among the highlights include those noted for the remarketing industry and the fleet market:
- NAAA-member auction sales rose an estimated 6.3 percent to 9.3 million units in 2015.
- Wholesale vehicle prices were just 1.21.2-percent short of a 2011 high.
- New vehicles purchased by commercial fleets grew by more than 2 percent in 2015 to 629,000 units.
- While government fleets declined slightly, commercial fleets should continue to grow as a result of higher employment levels.
The report is available for download at www.manheim.com/consulting.