Trucks literally are carrying the pricing load, according to ADESA Analytical Services’ monthly analysis of wholesale used vehicle prices by vehicle model class.

ADESA’s Tom Kontos reported on Tuesday that wholesale used-vehicle prices in June averaged $10,556, which was down 1.5 percent compared to May but up 3.3 percent relative to June of last year. Kontos pointed out that car model classes again took the bigger month-over-month hit and were down on a year-over-year basis while truck prices climbed.

“Average wholesale values fell again on a month-over-month basis in June, but they remain up on a year-over-year basis largely because of the continued price strength of trucks,” Kontos said as a part of his Kontos Kommentary he distributes each month.

“A portion of the month-over-month price decline can be explained by the usual falloff in prices from May to June, typifying the transition from the strong spring/tax season to the less robust summer months,” he continued. “However, incentive activity, which has been relatively benign, may be on the rise, as manufacturers look to boost waning new vehicle sales — a pattern that bears watching. 

“In the meantime, retail used vehicle sales were strong in June, which once again provided demand-side support for wholesale values receiving downward pressure from supply growth,” Kontos went on to say.

Data from the National Automobile Dealers Association showed a 5.3-percent year-over-year increase in retail used-vehicle sales by franchised dealers and a 9.1-percent increase for independent stores in June. “Both were up significantly up month-over-month,” Kontos added.

As previously reported by Auto Remarketing, Kontos also cited figures from Autodata Corp. that highlighted June certified pre-owned sales ticked up 0.8 percent month-over-month and 5.0 percent year-over-year.

That sales activity pushed average wholesale prices for used vehicles remarketed by manufacturers 5.7 percent higher month-over-month and 2.0 percent year-over-year.

Kontos noted prices for fleet/lease consignors softened 1.1 percent sequentially but edged 0.7 percent higher annually. He also mentioned dealer consignors registered a 1.1-percent price decrease versus May but a 3.6-percent increase relative to June of last year.

Kontos went into more detail about wholesale activity in Canada in the video that can be viewed at the top of this page or here.

Source: ADESA Analytical Services. May revised.