In August and September, the average auction prices for rental risk units increased, according to Manheim. This brought the average price near to where it has been for the past three years.
Also, it helped confirm that the “weak” pricing in May, June and July was mainly a reflection of the older, poor-condition vehicles being sold, says Manheim.
For September, the average mileage on units sold decreased below 45,000 miles but was still up 8% from a year ago.
Manheim Used Vehicle Changes for Selective Market Classes (September 2015 vs. September 2014)
Wholesale used vehicle prices (on a mix-, mileage and seasonally adjusted basis) increased for the fourth consecutive month in September. This brought the Manheim Used Vehicle Value Index to a reading of 124.8 in September, which represented an increase of 2.8% from a year ago.
Pickups, SUVs, CUVs and vans continued to have higher prices year-over-year— pickups had the highest growth in the last year at 11.8%. Over the past year, compact car prices were down 5.4%, according to Manheim.
ADESA’s Monthly Used Vehicle Prices Analysis
Average wholesale used vehicle prices were relatively flat in September, as car prices fell while truck prices rose in light of low fuel prices, according to the latest Kontos Kommentary from ADESA Chief Economist Tom Kontos.
Prices for fleet/lease consignors were down 0.4% sequentially and down 0.3% annually, according to ADESA. Off-rental program and risk units both showed year-over-year declines in average prices despite manageable volumes and reasonable mileages.
According to ADESA Analytical Services’ monthly analysis of Wholesale Used Vehicle Prices by Vehicle Model Class, wholesale used vehicle prices in September averaged $9,619 — relatively flat at 0.5% compared to August and 0.7% relative to September 2014. Prices for trucks were up sequentially and annually, while the opposite was true for cars.
|Wholesale Used Vehicle Price Trends|
|Average Prices ($/Unit)||Latest Month Versus:|
|Sep-15||Aug-15||Sep-14||Prior Month||Prior Year|
|Total All Vehicles||$9,619||$9,575||$9,554||0.5%||0.7%|
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.