Average wholesale used vehicle prices fell for the second month in a row in November and into December, which is not unusual for the year-end/holiday season period, according to ADESA Chief Economist Tom Kontos.

Dealers appear to be amply stocked for the softer retail demand they face. According to ADESA US Analytical Services’ monthly analysis of auction industry used vehicle prices by vehicle model class, wholesale prices in November averaged $14,012 — down 4.0% compared to October, down 4.6% relative to November 2022, and up 26.5% versus pre-pandemic/November 2019.