Used vehicles sold by dealers made up a higher percentage of all cars and trucks sold at auctions in 2010, the first increase in the dealer consignment category since 2005, according to the 2011 Manheim Used Car Market Report. The report was released Saturday.
Auctions sold 3.8 million vehicles on consignment for dealers last year, or 45 percent of the total auction volume, the report says. The average dealer-owned vehicle sold for more than $9,000 compared with just under $8,000 in 2009, despite having more miles on its odometer.
"Although dealers represent the largest supply of vehicles in auctions, they skew toward older, less expensive models than do commercial consignors" such as rental fleets, the report says.
The report also says new-vehicle leasing grew to more than 1.7 million units in 2010, up 50 percent from 2009.
Citing data from J.D. Power and Associates, the report says leasing as a percentage of new-car sales rose notably for major automakers from January through November 2010, compared with all of 2009.
At Chrysler Group, for example, leasing as a percentage of new-vehicle sales rose to 9 percent in the first 11 months of 2010 from 3 percent for all of 2009. Ford Motor Co.'s leasing rate rose to 10 percent from 6 percent, and General Motors Co.'s increased to 10 percent from 2 percent.
At Toyota Motor Sales U.S.A. Inc., leasing as a percentage of new-vehicle sales rose to 25 percent from 16 percent. American Honda Motor Co.'s leasing rate rose to 28 percent from 19 percent.
The report also said:
Used-vehicle sales to consumers, whether from a dealer or a private party, rose 4 percent to just under 37 million units.
Auction volume continued to slide, with 2010 sales estimated to be 12 percent below 2007.
Online remarketing of used vehicles continues to grow.