Wholesale prices for fleet lease consignor vehicles fell 1.6% in October from the prior month and 4.5% higher than a year ago, Tom Kontos said in his monthly commentary.
The average wholesale price in October fell to $10,977, which was 0.6% lower than September and 4.2% higher compared to a year ago. Prices were flat or lower for most model class segments. Full-size cars were higher than a year ago.
Sales of two fleet lease categories — midsize sedans and midsize SUVs — reflected the broader trend. Midsize sedans increased 1.6% to $11,321; while midsize SUVs increased 5.7% to $18,787 from year-ago levels.
Average wholesale prices for used vehicles remarketed by manufacturers were up 0.6% month-over-month and up 5.7% year-over-year. Average prices for dealer consignors were down 0.3% versus September and up 7.5% relative to October of 2016, Kontos wrote in his Kontos Kommentary.