Average wholesale used vehicle prices rose for the second consecutive month in September but have fallen thus far in October and seem to be reflecting their typical seasonal decline as the holidays approach despite the UAW strike, according to ADESA Chief Economist Tom Kontos.

Total retail used vehicle sales and Certified Pre-Owned (CPO) sales were strong in September, as consumers continued to seek more-affordable vehicles in light of high inflation and interest rates.

According to ADESA US Analytical Services’ monthly analysis of auction industry used vehicle prices by vehicle model class, wholesale prices in September averaged $15,171 — up 1.7% compared to August, down 2.7% relative to September 2022, and up 36.6% versus pre-pandemic/September 2019.