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Securitization residual values hit 12-year low

The average residual value expected in auto lease securitizations this year dropped to a level unseen since 2007, according to a report published last week by Moody’s Investors Service. Residual value risk, as measured by securitizations’ residual value settings, was set at an average of 46.2% of MSRP, down from 47.1% in 2018. “The lower […]

Off-lease volume to peak this year

The volume of off-lease vehicles returning to market is expected to peak at 4.1 million this year and again in 2020, Jonathan Smoke, Cox Automotive’s chief economist, said in the second-quarter Used Vehicle Value Index conference call. “Off-lease maturities grew by 1.7 million units between 2014 and 2018,” Smoke said. “This year, we expect the […]

Used-Vehicle Sales Increase Offsets New-Car Volume Decline

Used-vehicle sales picked up the slack as new-car volume slipped in April, according to fresh data from Cox Automotive. Used-vehicle sales volume increased 3% year over year, while new-vehicle sales fell 1.7%, even with one more selling day than April 2018, according to Cox Automotive’s monthly Manheim Used Vehicle Value Index report. The April SAAR […]