Average wholesale prices in August remained up on a year-over-year basis, according to Tom Kontos, chief economist of Kar Auction Services.
In his August commentary, Kontos reported 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. However, car prices remained up for off-lease units, Kontos said.
CPO sales were strong in August and continue to support off-lease vehicle prices, Kontos stated.
According to ADESA Analytical Services’ monthly analysis of Wholesale Used Vehicle Prices by Vehicle Model Class, wholesale used vehicle prices in August averaged $11,244 – down 1.8 percent compared to July but up 1.8 percent relative to August 2018. All segments showed month-over-month declines in average prices except full-size vans and full-size SUV/Crossovers.