The Manheim annual Used Car Market report examines the economic underpinnings of the entire used vehicle market and sector-specific trends that influence the supply and pricing of used vehicles. This report highlights market conditions and buyer and seller strategies within the used vehicle marketplace, provides an update on digital and mobile technology developments. It also includes an annual look at the various industry components, including dealer, rental, repossessions, leasing, and salvage.
While 2016 saw new vehicle sales hit a record high, and used vehicle sales accelerate for the seventh year in a row, Cox Automotive’s Chief Economist Tom Webb recommends those in the industry “prepare for volatility, enjoy today’s calm, relish having maximized returns during the recovery, and remain agile and liquid to capture the coming opportunities.”
Examine the full report to better understand factors that influenced our industry in 2016, what is projected for 2017 and actions you can take to navigate the road ahead.
