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.
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.