Average Wholesale Prices Fall in May

June 5, 2015
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Average wholesale used-vehicle prices fell significantly in May relative to April, though they remained modestly higher than year-ago levels, according to ADESA Analytical Services’ monthly analysis of Wholesale Used Vehicle Prices by Vehicle Model Class.  Besides seasonal factors, supply growth put downward pressure on prices.

KONTOS
KONTOS

"Used-vehicle retail sales were a mixed bag in May, as franchised dealers enjoyed an uptick in sales, especially of CPO units, while independent dealers saw year-over-year declines," according to Tom Kontos, EVP & chief economist for ADESA Analytical Services. 

Wholesale used vehicle prices in May averaged $10,440 – down 2.5-percent compared to April, but up 1.1percent  relative to May 2014.  Only full-size vans, Mini SUVs, and full-size SUVs had month-over-month increases in average prices.

Average wholesale prices for used vehicles remarketed by manufacturers were down 0.2% month-over-month and down 6.5 percent year-over-year. Prices for fleet/lease consignors were down 3 percent sequentially and down 3 percent annually.  Dealer consignors saw a 2.6-percent price decrease vs. April, but enjoyed a 1.8-percent increase relative to May 2014.

A new data series from NADA showed a 3.6-percent year-over-year increase in used vehicle sales by franchised dealers, but a 1.6-percent decrease for independent dealers.  CPO sales set new highs in May, growing 8.3 percent month-over-month and 12.2 percent year-over-year, according to figures from Autodata.

WHOLESALE USED-VEHICLE PRICE TRENDS

  Average Prices ($/Unit)     Latest Month Versus:  
  May-15 Apr-15 May-14 Prior Month Prior Year
           
Total All Vehicles $10,440 $10,703 $10,328 -2.5% 1.1%
           
Total Cars $9,085 $9,376 $9,226 -3.1% -1.5%
Compact Car $7,213 $7,433 $7,267 -3.0% -0.7%
Midsize Car $8,024 $8,298 $8,504 -3.3% -5.6%
Fullsize Car $7,183 $7,641 $7,200 -6.0% -0.2%
Luxury Car $12,923 $13,205 $12,668 -2.1% 2.0%
Sporty Car $13,885 $14,084 $13,140 -1.4% 5.7%
           
Total Trucks $11,777 $11,915 $10,914 -1.2% 7.9%
Mini Van $7,630 $8,221 $7,311 -7.2% 4.4%
Fullsize Van $12,622 $12,471 $11,237 1.2% 12.3%
Mini SUV $14,187 $14,130 $13,020 0.4% 9.0%
Midsize SUV $8,575 $8,717 $8,387 -1.6% 2.2%
Fullsize SUV $12,017 $11,900 $10,901 1.0% 10.2%
Luxury SUV $19,889 $19,947 $19,765 -0.3% 0.6%
Compact Pickup $8,089 $8,107 $7,723 -0.2% 4.7%
Fullsize Pickup $14,556 $14,607 $13,343 -0.4% 9.1%
           
Total Crossovers $12,332 $12,700 $12,817 -2.9% -3.8%
Compact CUV $10,843 $11,255 $11,575 -3.7% -6.3%
Mid/Fullsize CUV $13,447 $13,763 $14,095 -2.3% -4.6%
Source: ADESA Analytical Services. April data revised.          
           

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