Executive VP & Chief Economist
ADESA Analytical Services
Wholesale used vehicle prices in October averaged $9,678 – up 1.3% compared to September and up 0.9% from October 2013. The market saw a biased average that masked the inherent softness in the wholesale used vehicle market that faces high incoming supply. That bias was influenced by a large proportion of higher priced, late-model rental program vehicles, some of which were sold after long delays from recalls.
Average Prices for Minivans Up Significantly As in September:
Reflects increase in percentage of current and one-year-old models sold in factory sales.
Franchised Dealers Took Used Supply from Off-Lease and Trade-ins:
Demand for used retail by dealers at auctions didn’t have quite the support for auction prices as in previous months.
CPO Sales Up 7.5% Over September and Up 13.8% Over October 2013:
Strong CPO has been particularly useful in absorbing high incoming lease volumes.