Wholesale prices partially reversed declines in October, registering an increase from September. Although prices remained down on a year-over-year basis, this decline masks underlying strength —October’s results are being measured against last October’s temporary price strength stemming from Superstorm Sandy, according to the latest Kontos Kommentary from ADESA Chief Economist Tom Kontos.

Nevertheless, some of October’s increase in average prices is the result of more high-priced program units being remarketed by manufacturers. Wholesale used vehicle prices continue to receive downward pressure from returning supplies of off-lease units and other sources of used car volume growth, says Kontos.

According to ADESA Analytical Services’ monthly analysis of Wholesale Used Vehicle Prices by Vehicle Model Class, wholesale used vehicle prices in October averaged $9,590 — up 1.2% compared to September but down 1.8% relative to October 2012.

Prices for used vehicles — remarketed by manufacturers — were down 5.3% month-over-month but up 2.1% year-over-year, while prices for fleet/lease consignors were down 2.7% sequentially but up 1.5% annually. For dealer consignors, there was a 1% average price increase versus September 2013 but a 3.3% downturn versus October 2012.

Based on data from CNW Marketing/Research, retail used vehicle sales were down 10.8% month-over-month but up 1.6% on a year-over year basis in October. And based on figures from Autodata, sales of certified pre-owned (CPO) vehicles were up 13.1% from the prior month and 20.6% from the prior year.

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.