Tide likely to turn for off-lease vehicle volumes in second half of year
Larry Dixon (left), during a panel discussion at the 2023 Auto Intel Summit. Photo by Jonathan Fredin.
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Tuesday, Jul. 23, 2024, 02:19 PM
Joe Overby, Senior Editor
Don't let the improvement in off-lease volumes in the wholesale vehicle market fool you. At least take these gains with a grain of salt.
Numbers in this segment are expected to take a hit in the second half of 2024 and are not likely to return to pre-pandemic levels any time soon.
Here's how the numbers shake out:
Looking at year-to-date auction check-ins at Manheim locations through the first half of the year, lease check-ins have climbed 94% year-over-year, but trail 2019 levels by 58%, data from Cox Automotive shows.