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.
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.
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.
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.
Wholesale used-vehicle prices in October averaged $10,499, a decline from September but a 3% increase on a year-over-year basis.
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.
Wholesale prices for trucks were up 7.3% on a year-over-year basis while cars were down 1.3%, according to ADESA.
Average whole values fell again on a month-over-month basis in July, but they remain up on a year-over-year basis mainly due to the price strength of truck and continued growth of younger, lower-mileage, higher-priced off-lease supply, according to ADESA.
Average wholesale values fell again on a month-over-month basis in June, but they remain up on a year-over-year basis mainly due to the price strength of trucks, according to ADESA.
In May, average wholesale values fell relative to April, though they remain up on a year-over-year basis largely because of the price strength of trucks, according to ADESA.