Off-Lease Rental Cars Juiced April Wholesale Prices
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Average wholesale used vehicle prices increased in April on a month-over-month and year-over-year basis in a trend attributed to a significant proportion of sales of higher priced, late-model, off-rental, manufacturer program vehicles that elevated average prices, according to ADESA's Kontos Kommentary.
Drilling down into these averages reveals softness in institutional sales prices that reflects growth in supply, according to ADESA.
Wholesale used vehicle prices in April averaged $10,711, an increase of 0.7 percent from March and 2.2 percent higher relative to April 2014, according to ADESA Analytical Services’ Wholesale Used Vehicle Prices by Vehicle Model Class analysis. On a month-over-month basis, SUVs and pickups had strong price increases, while cars and crossovers generally saw weaker prices.
Prices for used vehicles remarketed by manufacturers were up 1.7 percent month-over-month but down 7.6 percent year-over-year. Prices for fleet and lease consignors were down 0.2 percent sequentially and down 1.4 percent annually. Dealer consignors registered a 1.8 percent increase versus March and a 2.4 percent increase relative to April 2014.
CPO sales softened from strong results the previous few months, falling 3.4 percent month-over-month, but remained up 11.3 percent year-over-year in April, according to figures from Autodata.