Wholesale used vehicle prices moved up in October, after declining in each of the previous five months. The Index was down only 0.4% from October 2013. Non-seasonally adjusted prices fell during the month but the decline was less than normal and took place while significant volume increases were present. The strength likely came from higher new vehicle transaction prices, stable incentives, and renewed consumer interest in used vehicles. Even so, wholesale price declines are in the offing.
Dealers Once Again in Acquisition Mode During October Market:
That came about after eliminating some inventory-intensive positions in Q3.
Auction Volumes of Rental Risk Units Were Up Significantly in October:
Average mileage was at record 44,800 miles, and auction prices down 6% from year ago.
Pickups and Vans Still Strongest Used Pricing Segments Year-Over-Year:
Midsize and compact car still suffer from new vehicle pricing and greater consumer interest in small crossover segment.