Kontos Sees Off-Rental Affecting Used Car Prices Along with Off-Lease

Tom Kon­tos
Exec­u­tive VP & Chief Econ­o­mist
ADESA Ana­lyt­i­cal Ser­vices

ADESA Ana­lyt­i­cal Ser­vices’ month­ly analy­sis of whole­sale used car prices saw the aver­age climb 6% over Feb­ru­ary and 4% over March 2013. That passed sea­sonal and year-ago lev­els. Off-rental units were in great sup­ply a year ago; delayed off-rental sup­ply cre­ated high­er off-rental prices and played a role in rais­ing whole­sale prices. Retail used vehi­cle sales also played a sig­nif­i­cant part with a strong rebound in March. That came after being depressed in pre­vi­ous two months by severe weath­er con­di­tions.

Here’s the lat­est Kon­tos Kom­men­tary mar­ket report

Off-rental Vol­ume Should Come Back after Harsh Win­ter and Late East­er:
That increase, along with expect­ed off-leave vol­ume growth, will return to state of down­ward price pres­sure that was seen in recent months.

All Seg­ments Except for Mini­vans Had Month-Over-Month Increas­es in March:
Pick­ups and SUVs saw par­tic­u­larly strong year-over-year price increas­es.

Deal­er Con­signors Had 7.5% Price Increase vs. Feb­ru­ary, and a 4.5% Over March 2013:
That indi­cated sol­id whole­sale absorp­tion of high trade-in vol­ume from strong March new vehi­cle sales.

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