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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