Late-model auction volume slows in February
By subscribing, you agree to receive communications from Auto Remarketing and our partners in accordance with our Privacy Policy. We may share your information with select partners and sponsors who may contact you about their products and services. You may unsubscribe at any time.
CARY, N.C. –
The used-car industry is seeing some easing in the volumes of late-model vehicles at auction, according to the latest Guidelines report from J.D. Power Valuation Services.
Through two months of the year, late-model auction volume is down 5.8 percent, the report said. In February alone, it was down 11.5 percent year-over-year.
Last month’s late-model volume was also down 8.8 percent from January, J.D. Power said.
Many of the late-model vehicles in the used-car ecosystem, at least recently, have been vehicles coming out of leases.
Cox Automotive is anticipating 3.89 million off-lease units in 2018, which would be up from 3.59 million in 2017. While that’s more than an 8-percent hike, the growth in off-lease volume is slowing down a bit.
Off-lease volume in 2017 was up more than 16 percent, following a gain of more than 22 percent in 2016, according to data in a Cox Automotive presentation. Still, 2018 is expected to be a record year for lease returns, according to Edmunds.
Subscribe to Auto Remarketing to stay informed and stay ahead.
By subscribing, you agree to receive communications from Auto Remarketing and our partners in accordance with our Privacy Policy. We may share your information with select partners and sponsors who may contact you about their products and services. You may unsubscribe at any time.
It could also be another record year for certified pre-owned sales, helped in good part by that off-lease volume, which tends to be the bread-and-butter of CPO inventory.
