Used fleet vehicles (commercial fleet / corporate portfolios) that sold at wholesale fell 1.5% to $13,603 in August from July, but remained up 1.2% when compared to the same month a year ago, according to Tom Kontos, chief economist for KAR Auction Services.
The trend mirrored the overall used car market, as truck sales continued to bolster values at ADESA. Overall wholesale values averaged $11,244, which represented a 1.8% decline from July and 1.8% gain from August 2018.
"The year-over-year price growth was due to the strength and growing share of truck-segment sales, as car prices fell on a monthly and annual basis overall, though they remained up for off-lease units," Kontos wrote in his monthly commentary.
While fleet consignors saw values that outperformed the overal wholesale market, vehicles remarketed by manufacturers increased 2.4% and were up 5.2% from the earlier year. Dealer consignor prices were down 2% from July and up 0.2% from August 2018.
In vehicle segments that are popular among commercial fleets, midsize cars increased 1.7% to $12,671 from a year ago, while midsize SUVs increased 1.5% to $21,252. These vehicles were three model years old with between 36,000 and 45,000 miles.