Executive VP & Chief Economist
ADESA Analytical Services
Wholesale used vehicle prices fell year-over-year for the first time since August 2014 as a more clear picture is being painted on the downward pressure surging supply has on prices. Cars are seeing the impact more than trucks, which are weathering low gasoline prices better than cars. The impact of previously elevated higher-priced, late-model off-rental program vehicles are having less effect on the market. Pricing has become more clear in terms of seller-type composition.
Average New Vehicle Incentives Have Been Climbing Recently:
That’s putting further downward pressure on used vehicle prices.
At $9,575, Wholesale Prices Were Down 3.1% from July and 0.2% from Year Ago:
Car prices took the hit with a 5.2% annual decline, while truck prices shot up 9.8%.
Franchised Dealers Sold 10.6% More Y-O-Y in August, and Independents Were Up 12.4%:
CPO sales were down 0.1% from July and 1.1% from one year ago.