Executive VP & Chief Economist
ADESA Analytical Services
Wholesale used vehicle prices saw a significant drop from April (down 2.5%) and a modest climb from May 2014 prices (up 1.1%). Seasonal factors are part of it, but increasing supply is having an effect on downward prices. As for dealers, franchised saw an uptick in sales with CPO sales helping quite a lot, while independent dealers had year-over-year declines in used vehicle sales volume.
May Wholesale Prices Came in at $10,440 – Down from April’s $10,711:
Only Fullsize Vans, Mini SUVs and Fullsize SUVs had price increases.
Manufacturers and Fleet/Lease Consigners Saw Prices Decline M-O-M and Y-O-Y:
Dealer consignors saw 2.6% price drop from April, but had 1.8% increase relative to May 2014.
Franchised Dealers Had 3.6% Y-O-Y Increase in Used Vehicle Sales:
CPO sales set new highs in May, up 8.3% M-O-M and up 12.2% Y-O-Y.