Average wholesale used vehicle prices were down in February compared to January, which is anomalous to the normal seasonal tendency as the spring tax refund season kicks in, according to the latest Kontos Kommentary from ADESA Chief Economist Tom Kontos.

Wholesale used vehicle prices in February averaged $10,202 — down 0.5% compared to January but up a modest 0.3% relative to February 2015, according to ADESA Analytical Services’ monthly analysis of Wholesale Used Vehicle Prices by Vehicle Model Class.

Cars and minivans continue to show year-over-year price declines, while SUVs/crossovers and pickups show gains.

Average wholesale prices for used vehicles remarketed by manufacturers were down 0.5% month-over-month but up 1.6% year-over-year, according to ADESA. Prices for fleet/lease consignors were down 2.0% sequentially and down 1.8% annually, as fleet/lease sales volumes rose significantly versus the prior year — partly as a result of higher off-lease volumes.

Data from NADA showed an 11.9% year-over-year increase in retail used vehicle sales by franchised dealers and a 15.5% increase for independent dealers in February, but both were down significantly on a month-over-month basis for the second month in a row.

Wholesale Used Vehicle Price Trends          
  Average Prices ($/Unit)     Latest Month Versus:  
  Feb-16 Jan-16 Feb-15 Prior Month Prior Year
Total All Vehicles $10,202 $10,254 $10,167 -0.5% 0.3%
Total Cars $8,506 $8,535 $9,074 -0.3% -6.3%
Compact Car $6,650 $6,531 $7,271 1.8% -8.5%
Midsize Car $7,667 $7,742 $8,100 -1.0% -5.3%
Fullsize Car $7,378 $7,485 $8,027 -1.4% -8.1%
Luxury Car $12,899 $12,858 $13,493 0.3% -4.4%
Sporty Car $12,893 $12,730 $12,693 1.3% 1.6%
Total Trucks $12,030 $12,093 $11,409 -0.5% 5.4%
Mini Van $7,262 $7,141 $7,888 1.7% -7.9%
Fullsize Van $12,429 $12,120 $12,155 2.6% 2.3%
Compact SUV/CUV $10,615 $10,568 $10,542 0.4% 0.7%
Midsize SUV/CUV $10,663 $10,758 $10,047 -0.9% 6.1%
Fullsize SUV/CUV $12,107 $12,265 $11,422 -1.3% 6.0%
Luxury SUV/CUV $17,758 $17,923 $17,719 -0.9% 0.2%
Compact Pickup $8,370 $8,268 $7,683 1.2% 8.9%
Fullsize Pickup $15,298 $15,209 $13,777 0.6% 11.0%

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.

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