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Five ADESA auctions remained closed Monday as Hurricane Irma moved through Georgia and Alabama, and two ADESA auctions in those states curtailed hours and staff, the KAR Auction Services unit announced.
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Prices consignors booked from off-lease fleet vehicles fell 0.2% in May, but remain up 3.5% from a year ago, Tom Kontos wrote in his monthly Kontos Kommentary.
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Average wholesale prices increased in April from March and from a year ago on the strength of truck values, but several benchmark segments in fleet lease sales are showing weakness, said Tom Kontos in his monthly commentary.
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In March, prices were down 2.5% year-over-year for current and one-model-year-old units and down 2.6% for three-model-year-old units, according to ADESA. Overall, wholesale used prices were up 2% compared to February and up 1% year-over-year.
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February provided "further concrete evidence of softening" of used vehicle prices during a month that usually shows improvement from January, ADESA's Tom Kontos wrote in his monthly Kontos Kommentary.
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In January, all model classes showed month-over-month and year-over-year price gains — except full-size SUV/CUVs, according to ADESA. Overall, wholesale used vehicle prices were up 2.8% compared to December and up 6.7% year-over-year.
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Wholesale used vehicle prices in December averaged $10,642, which was essentially flat from the month before but a 3.9% increase over the same period in 2015, according to ADESA. Truck prices were down 0.6% in December.
Read More →A new threat to used vehicle prices seems to be arising from increased new vehicle incentives, which have been relatively benign through this cycle of price softening.
Read More →Wholesale used-vehicle prices in October averaged $10,499, a decline from September but a 3% increase on a year-over-year basis.
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Wholesale used-vehicle prices average $10,734 in September, which was flat with August but up 5.1% from a year ago, according to ADES Analytical Services.
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