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SEARCHADESA’s Chief Economist Tom Kontos reported in the latest Kontos Kommentary that average wholesale used vehicle prices demonstrated strong gains in December.
Average wholesale used vehicle prices in December increased by more than 3% since November, according to the latest Kontos Kommentary from ADESA's Chief Economist Tom Kontos.
Kontos said that December’s strength is due to the tendency of some consignors to hold cars during December in anticipation of higher prices in January. Consignors who chose to sell rather than hold in December benefited with stronger prices.
According to ADESA Analytical Services’ monthly analysis of Wholesale Used Vehicle Prices by Vehicle Model Class, wholesale used vehicle prices in December averaged $9,849 — up 3.1% compared to November and down 0.2% from to December 2011.
Prices for used vehicles remarketed by manufacturers rose by 3.2% month-over-month in December, and were up 6.9% year-over-year, indicating continued good absorption of off-rental program vehicles.
Fleet/lease consignors experienced a 2.8% increase in December, resulting in prices being up 2% year-over-year. Dealer consignors saw a 3.5% average price increase versus November, leaving prices down 1.7% versus December 2011.
Based on data from CNW Marketing/Research, retail used vehicle sales in December were up 16.3% year-over-year for franchised dealers and 18.4% for independent dealers, yielding a total increase of 4.9% month-over-month for both groups combined. December sales of certified used vehicles were down 0.7% and up by 5.7% versus prior month based on data from Autodata.
Wholesale Used Vehicle Price Trends | |||||
|---|---|---|---|---|---|
Average Prices ($/Unit) | Latest Month Versus: | ||||
Dec-12 | Nov-12 | Dec-11 | Prior Month | Prior Year | |
Total All Vehicles | $9,849 | $9,554 | $9,869 | 3.1% | -0.2% |
Total Cars | $8,930 | $8,602 | $8,878 | 3.8% | 0.6% |
Compact Car | $6,990 | $6,848 | $6,929 | 2.1% | 0.9% |
Midsize Car | $8,034 | $7,789 | $7,827 | 3.2% | 2.6% |
Fullsize Car | $7,693 | $7,674 | $7,493 | 0.2% | 2.7% |
Luxury Car | $12,542 | $11,807 | $13,023 | 6.2% | -3.7% |
Sporty Car | $12,488 | $11,959 | $12,526 | 4.4% | -0.3% |
Total Trucks | $9,889 | $9,666 | $10,009 | 2.3% | -1.2% |
Mini Van | $6,936 | $6,971 | $7,297 | -0.5% | -5.0% |
Fullsize Van | $8,915 | $9,471 | $9,305 | -5.9% | -4.2% |
Mini SUV | $10,930 | $10,592 | $10,707 | 3.2% | 2.1% |
Midsize SUV | $6,763 | $6,828 | $7,163 | -1.0% | -5.6% |
Fullsize SUV | $11,684 | $11,344 | $11,993 | 3.0% | -2.6% |
Luxury SUV | $19,286 | $18,631 | $20,504 | 3.5% | -5.9% |
Compact Pickup | $7,229 | $7,158 | $7,662 | 1.0% | -5.7% |
Fullsize Pickup | $11,702 | $11,398 | $11,270 | 2.7% | 3.8% |
Total Crossovers | $13,117 | $12,777 | $13,309 | 2.7% | -1.4% |
Compact CUV | $11,399 | $10,745 | $11,083 | 6.1% | 2.9% |
Mid/Fullsize CUV | $14,726 | $15,157 | $15,978 | -2.8% | -7.8% |
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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