The value of used fleet vehicles sold in wholesale channels increased 0.4% to $13,812 in July and are now up 4.1% through the first eight months of 2019, according to Tom Kontos, chief economist for KAR Auction Services.
Vehicles taken out of rental, government, and commercial fleets were outpaced by vehicles from manufactorer and dealer consignors in July, which reversed a trend for much of 2019. In July manufacturer vehicles increased 2.7% from June and 6.1% from a year ago. Dealer vehicles increased 1.2% from June and 4.1% from July of 2018.
The overall wholesale market was flat in July and continued to outpace 2018, especially in the growing share of truck-segment sales, Kontos wrote in his monthly commentary. Wholesale values fell 0.2% to $11,452 in July, and are 5.1% above July of 2018. All segments showed month-over-month declines in average prices except compact cars, compact pickups, and fullsize pickups.
Sales of certified pre-owned vehicles "continue to buoy off-lease vehicle prices," Kontos wrote.
Popular fleet segments such as midsize cars and midsize SUVs moved higher year over year with cars increasing 4.1% to $12,670 and SUVs increasing 3.8% to $21,323.