ADESA: Wholesale Used Car Prices Continue to Soften in July

Wholesale used car prices continued to soften in July but less than in June — due to retail demand cushioning the blow to prices, according to the latest Kontos Kommentary from ADESA Chief Economist Tom Kontos.

According to ADESA Analytical Services’ monthly analysis of Wholesale Used Vehicle Prices by Vehicle Model Class, wholesale used vehicle prices in July averaged $9,435 — down 1.3% compared to June and 1.3% relative to July 2012. According to ADESA, the biggest price hits were taken by vans, full-size cars, SUVs and CUVs categories. On the other hand, full-size pickups and smaller SUVS and crossovers continue to draw higher prices, as well as off-rental program units sold by auto manufacturers.

Prices for used vehicles — remarketed by manufacturers — were up 3% month-over-month and 3.9% year-over-year, while prices for fleet/lease consignors were down 0.6% sequentially but up 3.2% annually, according to ADESA. For dealer consignors, there was a 2.1% price decrease compared to July 2012.

Based on data from CNW Marketing/Research, July sales for retail used vehicle were somewhat flat on both a month-over-month and year-over year basis, but sales still remain at historically high levels on a year-to-date basis. In fact, year-to-date sales are at their highest levels since 2005 and are up 3.5% year-over-year for franchised dealers and 2.4% for independent dealers.

And based on figures from Autodata, sales of certified pre-owned (CPO) vehicles were up significantly at 21.0% year-over-year.

Wholesale Used Vehicle Price Trends     
  Average Prices ($/Unit)     Latest Month Versus:  
  Jul-13 Jun-13 Jul-12 Prior Month Prior Year
Total All Vehicles $9,435 $9,554 $9,556 -1.3% -1.3%
Total Cars $8,509 $8,642 $8,703 -1.5% -2.2%
Compact Car $6,605 $6,799 $7,014 -2.8% -5.8%
Midsize Car $7,701 $7,946 $7,748 -3.1% -0.6%
Fullsize Car $6,691 $7,120 $6,977 -6.0% -4.1%
Luxury Car $11,768 $11,769 $12,446 0.0% -5.4%
Sporty Car $12,718 $12,551 $12,449 1.3% 2.2%
Total Trucks $9,441 $9,612 $9,461 -1.8% -0.2%
Mini Van $5,949 $6,401 $6,537 -7.1% -9.0%
Fullsize Van $9,434 $9,853 $9,766 -4.3% -3.4%
Mini SUV $11,733 $11,563 $10,941 1.5% 7.2%
Midsize SUV $6,758 $6,602 $6,747 2.4% 0.2%
Fullsize SUV $9,921 $10,886 $10,726 -8.9% -7.5%
Luxury SUV $18,308 $18,322 $18,825 -0.1% -2.7%
Compact Pickup $7,255 $7,283 $7,384 -0.4% -1.7%
Fullsize Pickup $11,856 $11,857 $11,276 0.0% 5.1%
Total Crossovers $12,543 $12,627 $12,846 -0.7% -2.4%
Compact CUV $11,265 $11,338 $10,839 -0.6% 3.9%
Mid/Fullsize CUV $13,871 $13,995 $15,293 -0.9% -9.3%

This Kontos Kommentary analysis is based on nearly six million annual sales transactions from more than 150 of the largest U.S. wholesale auto auctions, including those of ADESA as well as other auction companies. ADESA Analytical Services segregates these transactions to study trends by vehicle model class.

Comment On This Story

Name:  
Email:  
Comment: (Max. 10000 characters)  
Please leave blank:
* Please note that every comment is moderated.

 
 

Newsletter: Sign up to receive latest news, articles, and much more.

Read the latest

Auto Focus Blog: A blog covering fleets, auto rental and the business of cars

A Shared Mobility Model Takes Shape for Fleets

Technology that allows cab drivers flexible access to a shared fleet is leveling the playing field for an 89-year-old taxi company.

Safety Tech: Crash Avoidance or Sensory Overload?

As advanced safety technologies become even more pervasive on mainstream vehicles, are we creating “stupid drivers?"

Own the Fleet, Own the Future

In the dialogue surrounding new transportation paradigms, fleets have been off the public radar until recently. Here’s what’s going on, and a way for you to participate in the conversation.

Job Finder: Access Top Talent. Fill Key Positions.

>