Wholesale used vehicle prices continued its softening pattern in January, albeit at a mild rate relative to year-ago levels, according to the latest Kontos Kommentary from ADESA Chief Economist Tom Kontos.

Wholesale volume growth, especially from off-lease vehicles, continues to put downward pressure on prices. And weather conditions restricted retail demand from offsetting this impact. Still, January prices did exhibit their typical seasonal uptick relative to December, says Kontos.

According to ADESA Analytical Services’ monthly analysis of Wholesale Used Vehicle Prices by Vehicle Model Class, wholesale used vehicle prices in January averaged $9,983 — up 3.4% compared to December but down 0.5% relative to January 2013. About as many model-class segments had year-over-year gains as those had losses, which led to the relatively mild overall decline. SUVs, full-size pickups and vans showed some gains, while most car and crossover segments registered year-over-year price declines.

Prices for used vehicles — remarketed by manufacturers — were down 2% month-over-month but up 4% year-over-year, says ADESA. Prices for fleet/lease consignors were up 3.8% sequentially and 0.3% annually. For dealer consignors, there was a 1.7% average price increase versus December 2013 but a 2.5% downturn versus January 2013.

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.