November marked another month of sequential wholesale value declines, but the month-over-month slide slowed down and prices maintained their lead over year-ago levels, according to the latest Guidelines report from NADA Used Car Guide.

Overall, used vehicles (up to five years old) saw their prices fall 0.4 percent on a month-over-month basis in November. However, thanks to fleet supply softening and strong demand, this decline was 2 points slower than the sequential drop-off in October.

Moreover, compared to November 2010, wholesale prices were up 4 percent.

Breaking the sequential AuctionNet changes down by segment, car values were up 0.4 percent month-over-month; vans were down 1 percent; pickups were off less than 1 percent; and utility vehicle values fell around 0.5 percent.

“At the segment and model-year level, prices softened a bit more for vehicles four-plus model years old than they did for newer vehicles, which is an outcome that will most likely reverse itself as we head into the spring selling season when more cost-conscious consumers re-enter the market,” analysts noted.

“Compact and midsize car price declines ranged between 3.8 percent to a barely perceptible 0.3 percent, and with an average drop of 1 percent,” they added. “Midsize van prices firmed up considerably relative to the three month period preceding November when prices had fallen by an average of 4.5 percent per month.”

As for large pickups, they dropped 1.2 percent on average, while utility vehicles dipped 0.9 percent. Midsize utility vehicles dipped 2 percent, but officials stressed that this was almost 1 percent more moderate that the decline in October.

Meanwhile, near-luxury compacts dropped 1.9 percent and luxury midsize cars dipped 2.9 percent.

Sharing more about year-over-year trends, cars were up by more than 7 percent year-over-year in November, with pickups climbing more than 2 percent. Utility vehicles and vans were both up between 4 percent and 5 percent from November 2010, with utilities slightly ahead.

NADA Used Car Guide found that compact car values — despite dropping about 15 percent from the mid-year peak — were ahead more than 12 percent year-over-year for November. That marked the greatest increase among segments.

Midsize vans were up about 7 percent from November 2010; and luxury cars were up 6.5 percent, coming in at Nos. 2–3, respectively.

Large pickups and SUVs (up 1.7 percent and down 6.5 percent, respectively) were at the bottom of the list.

“Used-car prices in November, in particular compact and midsize cars, were mildly stronger than anticipated considering the exuberant appreciation witnessed earlier in the year,” analysts noted.

“Clearly November’s results were a product of enthusiastic consumer demand — especially for later model year units — and the contraction in month-over-month fleet volume,” they added. “Considering the latter, even a mild loss of inventory will pressure up prices given the (approximate) 20-percent reduction in AuctionNet wholesale volume witnessed over the course of the year.”

Hottest Used Vehicles

Moving along, the report also offered some details into which used models generated the most attention during November.

The four most-researched used models were unchanged from October, as the Ford F-150, Chevrolet Silverado 1500, Nissan Altima and Toyota Camry, respectively, claimed these spots yet again.

However, the Chevrolet Impala moved up a spot and took the No. 5 ranking, as the Dodge Ram 1500 fell from fifth to seventh, and the Honda Accord Sedan moved up one spot to No. 6.

Rounding out the top 10 were the Ford Super Duty F-250, the Ford Mustang and the Toyota Corolla, respectively.

Ranking No. 11 was the Ford Escape, followed by the Chevrolet Tahoe in 12th and the Silverado 2500HD in 13th. The Ford Focus placed No. 14, followed by the BMW 3 Series.

A year ago, the top five was as follows: F-150, Silverado 1500, Ram 1500, Accord Sedan and the Impala.

Analysts also delved into the year-over-year changes in used-car consumer activity by brand, noting that Subaru (up 23 percent) showed the greatest increases. Not far behind was Hyundai (22 percent).

Conversely, Volvo (down 27 percent) showed the greatest drop-off. Land Rover (down 11 percent) was a distant second.