CARMEL, Ind. -

ADESA chief economist Tom Kontos noticed prices in the lanes moved as he expected in August.

According to ADESA Analytical Services’ monthly analysis of wholesale used vehicle prices by vehicle model class, prices in August averaged $10,738, which was 0.6 percent lower compared to July but 4.6 percent higher relative to August of last year.

Kontos explained that once again prices for cars softened on a year-over-year basis (down 1.3 percent), while truck prices jumped “significantly” (up 7.3 percent), which led to the overall year-over-year increase.

“Average wholesale values fell modestly and in line with typical seasonal patterns in August,” said Kontos, who will be back as one of the many experts set to be a part of Used Car Week at the Red Rock Resort and Casino in Las Vegas on Nov. 14-18.

“Prices were again up on a year-over-year basis largely because of the continued price strength of trucks and a richer mix of younger, lower-mileage, higher-priced, off-lease units,” he continued.

“Retail used-vehicle sales, including CPO sales, also experienced seasonal declines in August, though they remain up year-over-year,” Kontos went on to say.

ADESA indicated that average wholesale prices for used vehicles remarketed by manufacturers dipped by 0.4 percent month-over-month in August but rose 5.6 percent year-over-year.

Analysts also mentioned prices for fleet/lease consignors were up 0.5 percent sequentially and up 1.1 percent annually in August.

Furthermore, ADESA reported that dealer consignors registered a 1.9-percent average price decrease versus July but a 4.9-percent increase relative to August of last year.

Kontos referenced data from the National Automobile Dealers Association that showed a 3.0-percent year-over-year increase in retail used-vehicle sales by franchised dealers and a 4.5-percent increase for independent dealers in August, but both were down significantly month over month.

He added August certified pre-owned sales jumped 5.8 percent year-over-year but dipped 0.4 percent month-over-month, according to figures from Autodata Corp.

Kontos discussed price movements more in the video available here and at the top of this page.

ADESA Wholesale Used-Vehicle Price Trends
   Average  Price  ($/Unit)  Latest  Month Versus
   August 2016  July 2016  August 2015  Prior Month  Prior Year
           
 Total All Vehicles  $10,738  $10,800  $10,265  -0.6%  4.6%
           
 Total Cars  $8,675  $8,810  $8,786  -1.5%  -1.3%
 Compact Car  $6,597  $6,613  $6,780  -0.2%  -2.7%
 Midsize Car  $7,748  $7,908  $7,764  -2.0%  -0.2%
 Full-size Car  $7,651  $7,681  $7,695  -0.4%  -0.6%
 Luxury Car  $13,356  $13,680  $13,631  -2.4%  -2.0%
 Sporty Car  $13,605  $14,084  $12,994  -3.4%  4.7%
           
 Total Trucks  $12,751  $12,777  $11,885  -0.2%  7.3%
 Minivan  $8,183  $8,408  $7,374  -2.7%  11.3%
 Full-size Van  $13,350  $13,216  $13,476  1.0%  -0.9%
 Compact SUV/CUV  $10,673  $10,746  $10,298  -0.7%  3.6%
 Midsize SUV/CUV  $11,448  $11,410  $10,208  0.3%  12.1%
 Full-size SUV/CUV  $13,292  $13,385  $12,131  -0.7%  9.6%
 Luxury SUV/CUV  $18,610  $18,750  $18,316  -0.7%  1.6%
 Compact Pickup  $8,485  $8,835  $7,973  -4.0%  6.4%
 Full-size Pickup  $16,141  $16,084  $14,981  0.4%  7.7%

Source: ADESA Analytical Services. August 2015 and July 2016 revised.