Manheim’s Used Vehicle Value Index: How Your Dealership Can Profit from Current Opportunities – Zo Rahim, Industry Insights at Cox Automotive
Tuesday May 21, 2019
- Overall, volume is down 2% year to day, but fleets up 4% year to day, and retail is where the weakness is, and that’s down 4% also this year.
- You’re starting to see payment inflation on the new vehicle side, but as there are challenges to the new vehicle market, there’s still a lot of opportunity overall in the vehicle market, particularly used.
- The used-vehicle market continues to out perform the new-vehicle market, for sure. There’s a lot of opportunity there. When you break out the used vehicle market, you’re seeing robust growth in CPO. We’re estimating 2.75 million CPO sales this year, which would be the ninth straight record of CPO sales growth.
CBT News, May 21, 2019 — Following Manheim’s release of the latest edition of the Used Vehicle Value Index, Zo Rahim joins CBT News to discuss current defining factors of the auto industry.
As the Manager of Economics and Industry Insights at Cox Automotive, Rahim says that there is still a lot of opportunity for dealers and fixed ops to continue to see favorable profit despite changes in the retail market. Watch the full interview below in order to hear more about these trends as well as how they are going to affect consumer trends and dealerships’ profits.