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
"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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