Wholesale Prices Fall 2.5 Percent, Still Up Over 2014
Wholesale used-vehicle prices in June averaged $10,192 – down 2.5 percent compared to May, but up 2.4 percent relative to June 2014.
by Staff
July 17, 2015
KONTOS
2 min to read
Average wholesale used-vehicle prices fell significantly again in June relative to May, though they remained higher than year-ago levels, according to ADESA Analytical Services’ monthly analysis of Wholesale Used Vehicle Prices by Vehicle Model Class.
KONTOS
"Besides seasonal factors, supply growth is continuing to put downward pressure on prices, though this impact remains somewhat masked by a 'richer mix' of higher-priced off-rental manufacturers program vehicles and off-lease units discussed in previous commentaries," according to Tom Kontos, EVP & chief economist for ADESA Analytical Services.
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According to the recent monthly analysis, wholesale used-vehicle prices in June averaged $10,192 – down 2.5 percent compared to May, but up 2.4 percent relative to June 2014.
"Increased supplies of compact cars played a role in softer prices for those vehicles in June. The SUV model classes also saw some correction in prices during the month, though prices remain high for SUVs on a year-over-year basis, as the fuel price environment has been favorable to larger vehicles," according to Kontos.
Average wholesale prices for used vehicles remarketed by manufacturers were up 0.3 percent month-over-month but down 6.9 percent year-over-year, as off-rental program vehicles continue to be in high abundance. Prices for fleet/lease consignors were down 2.6 percent sequentially and down 1.5 percent annually. Rental risk vehicles were partly to blame here, as a large number of older, rougher, high-mileage units were de-fleeted. Dealer consignors also saw a 2.6-percent price decrease versus May, but enjoyed a 2.7-percent increase relative to June 2014.
Data from NADA showed a 2.5 percent year-over-year increase in used vehicle sales by franchised dealers and a 3.6-percent increase for independent dealers in June. CPO sales were down 8.4 percent month-over-month from last month’s record sales, but up 17.6 percent year-over-year, according to figures from Autodata.
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