Executive VP & Chief Economist
ADESA Analytical Services
Truck prices carried the market higher than it might have been with dampening demand and generally softer used vehicle prices. Year over year, truck prices increased 10.5%, while car prices fell 6.3% and crossover prices fell 1.6%. With gasoline prices continuing to drop, it’s not a surprise that pickups did so well. Pickups and SUVs have been more scarce in supply, but dealers are reporting overall adequate used vehicle inventories. Additional wholesale supply is being offset by softening demand and prices fairly flat – up 0.6% over January 2015.
Every Car and Crossover Segment Saw Y-O-Y Average Price Declines:
While every truck segment except minivans saw year-over-year price increases.
Prices for Used Vehicles Remarketed by Manufacturers Down 1.6% M-O-M but Up 6.6% Y-O-Y:
Conversely, fleet/leases consigners were up 4.9% sequentially but down 0.8% annually.
Franchised Dealers Had 9.9% Y-O-Y Increase in Retail Used Vehicle Sales:
Independents were up 10.5% but both franchised and independents down 30% from December.