Average wholesale used vehicle prices fell significantly in June relative to May, though they remained higher than year-ago levels, according to ADESA’s Chief Economist Tom Kontos.
Average wholesale used-vehicle prices fell modestly in December but remained up on a year-over-year basis, according to a report from ADESA’s Chief Economist Tom Kontos.
ADESA’s chief economist says off-rental program vehicles kept wholesale prices artificially high in October. They also masked softness in a market that is facing high incoming supply.
Manheim says the more than 2% decline in wholesale prices 'appears to be part of a healthy overall market.' It allows dealers to turn inventory more quickly, officials say.
In August, prices were down on a year-over-year basis for the first time since the beginning of 2014, part of a softening trend in wholesale prices.
Thanks to improving weather during the second half of February, used-vehicle prices edge up 2.2%, the NADA Used Car Guide reported this week. The firm expects prices to continue rising in March.
Tom Kontos reported this week that wholesale used-vehicle prices in February averaged $9,839, down compared to January.
Used-vehicle prices in the United States declined slightly in the fourth quarter 2013, but they remained at historically high levels as consumer demand stayed strong, Manheim reports.
Strong retail demand continued to buoy wholesale used-vehicle prices in November, as average prices rose on both a month-over-month and year-over-year basis.
Average wholesale prices in October partially reversed from the declines recorded during the previous month, reports ADESA Analytical Services’ chief economist.
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