Tuesday, Jun. 10, 2014, 04:24 PM UPDATED 9:34 AMBy Auto Remarketing Staff
McLEAN, Va. -
Chances are, dealers at auction looking to shore up their supply of 1-year-old vehicles will find a good bit of vehicles from the rental-heavy segments.
That’s according to the latest issue of Guidelines from NADA Used Car Guide, which said that off-rental units are currently making up a large portion of 2013 model-year auction volume.
That being the case, the report says, “rental-heavy” segments like compact utility vehicles, compact cars, midsize cars, midsize utility vehicles and midsize vans are the auction volume leaders for this age group of vehicles.
“When concentrating on models within these segments where auction volume was greatest, depreciation tended to be most severe for Ford vehicles last month,” NADA’s Jonathan Banks said in the report.
On the new-car side, NADA cited WardsAuto data indicating that days’ supply was at 60 last month, down from 69 in April but up from 58 in May 2013.
“Supply levels have been on average three days higher than year-ago levels from March to May, down dramatically from the 12 day average of the first two months of the year,” Banks said in the report.