Fleet Lease Consignor Prices Fall 1.9% in December
Average wholesale prices for fleet lease vehicles were down 1.9% month-over-month, but up 0.4% year-over-year, according to Tom Kontos, KAR Auction Services' chief economist.
In his monthly report, Kontos stated that midsize cars in the fleet consignors experienced a 2.8% decline in average price on a year-over-year basis during December. Meanwhile, midsize SUV/CUVs experienced a 0.3% rise in average price, he reported.
“Although Midsize SUV/CUV prices were up in December in this analysis, the increase was modest compared to September through November. This may be indicative of a cessation in truck demand growth in Texas after Hurricane Harvey,” Kontos said.
Overall wholesale used vehicle prices in December averaged $10,804, up 0.1% over the previous month and up 1.5% from the same time last year.
Average wholesale prices for used vehicles remarketed by manufacturers were down 3.3% month-over-month, but up 8.3% year-over-year, Kontos added.
Looking at franchised and independent dealers, December retail used vehicle sales were down a combined 3.4% year-over-year, according to the National Automobile Dealers Association. Certified pre-owned sales during the month were up 9.0% compared to the prior month, and up 4.8% year-over-year, according to Autodata.