Executive Vice President, Customer Strategies & Analytics
ADESA Analytical Services
First half of October saw continued pattern of general price softening seen since Spring; as Superstorm Sandy approached and hit shores, dealers looked to be searching and bidding more aggressively in-lane and online; Strong dealer demand evident despite weakening retail used vehicle sales.
Storm Impact Pushing UV Values When Prices Were Anticipated to Soften:
Replacement demand for new and used likely to go up for period of time, particularly in New Jersey.
ADESA UV Prices Up 2.0% Over September and Down 1.4% from October 2011:
OPENLANE US Market Index also rose by 2% month-over-month.
Manufacturer UV Prices Feel by 0.2% Month-Over-Month:
Up 2.2% year-over-year, indicating good absorption of off-rental program vehicles.