Executive VP & Chief Economist
ADESA Analytical Services
February saw cumulative supply increasing, this time pushed further by the normal seasonal pattern of spring tax season. Prices continued to soften during the month, down from January. Wholesale used vehicle prices averaged $10,202 – down 0.5% from January but up 0.3% compared to February 2015. Car and minivan prices continued to decline from the previous year, while SUVs/crossovers and pickups had price gains.
Prices for Fleet/Lease Consignor Sales Down 2.0% M-O-M and 1.8% Y-O-Y:
Volumes rose significantly versus prior year partly from of higher off-lease volumes.
Franchised Dealers Had 11.9% Increase and Independents Up 15.5% Y-O-Y:
Both down significantly on a month-over-month basis for second month in a row.
February CPO Sales Up 10.8% M-O-M and 7.1% Y-O-Y:
February sales more than made up for CPO declines during January.