Off-lease vehicles from fleet consignors in the rental, commercial, and government sectors increased 2.3% in April from March and increased 5.8% from a year ago, according to analysis from KAR Auction Services.
April values were slightly lower than March, when former fleet vehicles rose 6.6% in value in the midst of the spring selling season. Among top fleet vehicle categories, midsize SUVs increased 4.3% ($875) to $21,233 from a year ago, while midsize sedans increased 4% ($465) to $12,180 from a year ago, according to Tom Kontos, KAR's chief economist.
"This analysis indicates that wholesale values for off-lease units are holding up well despite the overall softening market trend, and is evidence of the effectiveness of new remarketing approaches in redistributing supply into various sales channels," Kontos wrote in his monthly commentary.
Meanwhile, prices for vehicles from manufacturer consignors increased 4.6% for the month and 11.5% for the year. Prices for dealer consignors increased 4.5% from March and 1.5% for the year.
Wholesale used vehicle prices in April averaged $11,116, which marked a 2.7% increase from March and a 0.2% decrease from a year ago. Average prices were down from April of 2017 for cars and trucks, but luxury cars and minivans were segments with significant volume that had strong year-over-year price gains, Kontos said.