2012 Car Leasing Rebounds

2012 Car Leasing Rebounds
Car leasing‘s share of U.S. retail sales rose by a point final year to 20 percent, based on the Manheim 2012 Utilized Automobile Marketplace Report.The report credits the business for obtaining leasing correct, a minimum of “for probably the most component,” by targeting car lease customers with great credit who trade their vehicles on a normal cycle. The business also got praise for projecting end-of-lease residual values that had been not overly inflated.

In spite of what it calls an industrywide “conservative approach” to leasing, Manheim stated car lease deals rose 17 percent to two.1 million units in 2011. That was 85 percent greater than the 1.14 million lease deals written in 2009, when big banks and finance businesses had practically abandoned leasing within the midst from the downturn. The figures exclude sales and leases to fleets.

The report, released Saturday in the National Automobile Dealers Association convention right here, also notes that simply because fewer vehicles had been leased throughout the recession, off-lease volumes will continue to decline this year. That decline is expected to contribute to tight supplies of pretty new, low-mileage utilized vehicles, which in turn ought to bolster used-vehicle costs.

[Source: Automotive News]

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