Executive Vice President & Chief Economist
ADESA Analytical Services
Wholesale used vehicle prices are consistently feeling more downward pressure – dropping for the third straight month and falling below $10,000 for the first time this year. While dealers are doing very well in retail used vehicle sales (especially for CPO vehicles), supply growth has been high enough to keep prices down. Wholesale prices in July averaged $9,878 – down 3.3% compared to June, and up 1.4% relative to July 2014.
Pickup Values Benefited from Low Fuel Prices and Went up 2.2%:
Luxury car prices took a big drop, down 9.6% month-over-month.
Prices for Used Vehicles Remarketed by OEMs Down 10.2% M-O-M:
And down 14.7% Y-O-Y, as off-rental prices taken down by abundant supply.
Franchised Dealers Had 11.6% Y-O-Y Increase in Used Vehicles Sales:
Independent dealers had 15% sales unit increase for that same time period.