The Manheim Index came in at 125.1 in November, an increase of 1.5% from the previous year. The full-year 2015 Index is on track to post an increase for both an annual average and a year-over-year basis. The robustness of the retail market in new vehicle sales and used CPO sales drove the market up beyond initial expectations. While some lessors are posting gains on end-of-term units, that situation will change shortly unless it’s offset by strong retail markets.
Used Vehicle Sales Estimated to Come in Higher than 1% YTD in November:
CPO sales declined 4.7% in November, but have been up 8.7% YTD.
Rental Risk Prices Up 3.5% Over October and 2.5% Year-Over-Year:
Average mileage on risk units remained above 45,000 in November.
Average Auction Prices Showed Smaller Increase than in Each of Last 3 Years:
Auction prices for dealer-consigned declined from October but up 5% from year ago.