Though seasonally up from December, wholesale price trends in January were bifurcated, as truck prices showed year-over-year price increases and car and crossover prices fell on a year-over-year basis.
by Staff
February 26, 2016
KONTOS
3 min to read
Though seasonally up from December, wholesale price trends in January were divided, as truck prices showed year-over-year price increases and car and crossover prices fell on a year-over-year basis, according to ADESA Analytical Services’ monthly analysis of Wholesale Used Vehicle Prices by Vehicle Model Class. With gasoline approaching the dollar-per-gallon range in some parts of the country, this should come as no major surprise. But, with the exception of pickups and SUVs, dealers are increasingly reporting adequate used vehicle inventories, so additional wholesale supply is being met with dampening demand and therefore generally softer prices.
KONTOS
"With gasoline approaching the dollar-per-gallon range in some parts of the country, this should come as no major surprise. But, with the exception of pickups and SUVs, dealers are increasingly reporting adequate used vehicle inventories, so additional wholesale supply is being met with dampening demand and therefore generally softer prices," said Tom Kontos, EVP & chief economist for ADESA Analytical Services.
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According to ADESA Analytical Services, wholesale used-vehicle prices in January averaged $10,263 – up 4.9% compared to December and up 0.6% relative to January 2015. But, the modest year-over-year rise in average prices was only made possible by the 10.5% rise in truck prices, as car prices fell 6.3% and crossover prices fell 1.6%. Moreover, every car and crossover segment saw year-over-year average price declines, while every truck segment except minivans saw year-over-year price increases.
Average wholesale prices for used vehicles remarketed by manufacturers were down 1.6% month-over-month but up 6.6% year-over-year, as OEMs sold considerably fewer units than a year ago, when accumulated units recalled in 2014 were released for sale. Conversely, prices for fleet/lease consignors were up 4.9% sequentially but down 0.8% annually, as fleet/lease sales volumes rose significantly versus prior year. Dealer consignors saw a 5.5% price increase versus December and a 2.7% increase relative to January 2015.
Data from NADA showed a 9.9% year-over-year increase in retail used vehicle sales by franchised dealers and a 10.5% increase for independent dealers in January, but both were down by over 30% on a month-over-month basis. January CPO sales were down 2.1% month-over-month and 15.9% year-over-year, according to figures from Autodata.
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