CARMEL, IN - For the second consecutive month, average wholesale used-vehicle prices in March were above the $10,000 mark previously seen just once since 9/11, according to Tom Kontos, chief economist for ADESA Inc.
March was also the eighth consecutive month average prices were above year-ago levels. The key driver to recent price strength has been declines in new-vehicle incentives as some manufacturers reduced sticker prices. Retail sales of used vehicles were also up in March on a year-over-year basis, indicating the traditionally strong spring market has arrived - albeit a bit later and, so far, with less strenght than last year.
