Year Ends with Softening of Wholesale Used Vehicle Prices

Tom Kontos
Executive VP & Chief Economist
ADESA Analytical Services

Softening of used wholesale prices caused by the growling supply was offset last year by strong demand for retail used vehicles and CPOs, moderate new vehicle incentives, and the embrace of upstream channels along with traditional auctions. Off-rental program vehicles surged in supply in the first half of 2015, but these high-dollar, late model units biased the market for much of the year. Supply had increased enough to bring down prices at least 1% from both November and December 2014.

ADESA Average at $9,763 – down 1.2% from November and 1% from Year Ago:
Minivans only segment to see increase, and trucks declined less than cars and crossovers.

Off-Rental Risk Units Saw Modest M-O-M and Y-O-Y Price Increases:
Three-model-year-old (usually off-lease) vehicles down significantly M-O-M and Y-O-Y.

Franchised Dealers Had 6.4% Y-O-Y Increase in Used Sales During December:
Independent dealers had 11.7% Y-O-Y increase in used sales that same month.

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