Auto industry has significantly outperformed overall economy in recovery, and pattern continued in April when new and used vehicle sales continued to show strength. Manheim Index was at 126.1, down slightly from March 126.2 in March and 126.6 in April 2011, though valuations remained near historic highs.
More Indications Market Not Great, but Good:
UV operations produced growing profits, and bidding activity at auction remained solid.
Used Vehicle Retail Volumes Posted Further Gains in April and Year-to-Date:
This despite total dollar amount of individual income tax refunds is down this year for 1st time in many decades.
Rental Risk Unit Prices Looked at First Like they Reached New High:
However, after accounting for 1,000 fewer miles on average, adjusted prices were basically even w/ March’s level.