Manheim Publishes 2006 Used Car Market Report
ORLANDO, Fla. - Manheim, the leading provider of automotive remarketing services, used the NADA 2006 annual convention to release its 2006 Used Car Market Report, its 11th edition. The company says the annual report focuses on the concept of "intelligent remarketing." There is a vast amount of data available on all aspects of the used car market, and increasingly that data is being used to improve decision-making, said Manheim President/CEO Dean Eisner. Intelligent remarketing, he added, is the art of combining experience with information-driven analysis to achieve significantly improved results in remarketing. This leads to informed decisions by consignors and buyers, and also gives us insight into what products and services we need to be developing and refining. The UCMR gives specific examples of intelligent remarketing in various case studies throughout the book. Special sections on Preserving Vehicle Value and the Manheim DRIVE Center also provide examples of how remarketers can benefit from intelligent remarketing. The UCMR also includes a review of statistics and trends in various segments of the remarketing industry and forecasts on how they will impact each other in the future. Among some of the highlights of the 2006 UCMR: * the total number of used vehicles sold at auction declined slightly from 2004 to 9.6 million. * off-lease volume in 2005 was 1 million units lower than in 2003. * less lease subvention has resulted in increased customer satisfaction with leasing as a financing option. * manufacturers sold a record 2.1 million vehicles into the rental fleet in 2005. * the car rental industry generated almost $19 billion in revenue in 2005, a 7% increase from the previous year. * new vehicle sales to commercial and government fleets increased by more than 15% in 2005. * there were 1.34 million repossessions in 2005, down more than 16% from the 2003 high of 1.6 million. * prices for repossessed vehicles sold at auction increased in 2005. * total retail used vehicle sales by dealers topped 30 million units for the second consecutive year.