CARMEL, Ind. -

KAR Auction Services chief economist Tom Kontos looked at January wholesale data and declared that prices “held up surprisingly well.”

According to ADESA Analytical Services’ monthly analysis of wholesale used-vehicle prices by vehicle model class, wholesale used vehicle prices in January averaged $10,945 — up 2.8 percent compared to December and up 6.7 percent relative to January of last year.

ADESA indicated all model classes showed month-over-month and year-over-year price gains except full-size SUV/CUVs, whose prices declined relative to December but were up year-on-year. 

“Considering the increased supply of used vehicles wholesaled in January, used vehicle prices held up surprisingly well, despite soft retail demand and high new-vehicle incentives,” Kontos said in his monthly Kontos Kommentary released on Monday. “Nevertheless, pockets of supply-driven weakness did appear in rental program and risk units, and younger vehicles in general.

“The extreme year-over-year gain in minivan prices was driven by a change in mix favoring younger, pricier minivans, which exaggerated the increase,” he added in the video that can be seen here as well as at the top of this page.

ADESA reported average wholesale prices for used vehicles remarketed by manufacturers softened by 3.4 percent month-over-month and 1.4 percent year-over-year.

Analysts pointed out that January prices for fleet/lease consignors were up 4.9 percent sequentially and up 5.1 percent annually.

“Within this segment, however, rental risk units showed year-on-year price declines,” Kontos said.

ADESA also mentioned average prices for dealer consignors in January ticked up 2.5 percent versus December and 3.1 percent relative to last January

Kontos closed by noting that according to National Automobile Dealers Association data, both franchised and independent dealers saw month-over-month decreases in retail used vehicle sales of more than 25 percent, but registered increases versus prior-year. The gain for franchised stores was 4.0 percent and for independent lots, it was 8.1 percent. 

He added that January certified pre-owned sales dropped by 17.1 percent month-over-month but edged 0.8 percent higher year-over-year, according to figures from Autodata Corp.

ADESA Wholesale Used-Vehicle Price Trends
   Average  Price  ($/Unit)  Latest  Month Versus
   Jan. 2017  Dec. 2016  Jan. 2016  Prior Month  Prior Year
           
 Total All Vehicles  $10,945  $10,674  $10,254  2.8%  6.7%
           
 Total Cars  $8,867  $8,576  $8,535  3.4%  3.9%
 Compact Car  $6,639  $6,413  $6,531  3.5%  1.6%
 Midsize Car  $8,044  $7,773  $7,742  3.5%  3.9%
 Full-size Car  $8,300  $7,971  $7,485  4.1%  10.9%
 Luxury Car  $13,472  $13,049  $12,858  3.2%  4.8%
 Sporty Car  $13,041  $12,748  $12,730  2.3%  2.4%
           
 Total Trucks  $12,990  $12,645  $12,093  2.7%  7.4%
 Minivan  $9,289  $8,897  $7,141  4.4%  30.1%
 Full-size Van  $12,430  $11,317  $12,120  9.8%  2.6%
 Compact SUV/CUV  $10,762  $10,481  $10,568  2.7%  1.8%
 Midsize SUV/CUV  $11,854  $11,336  $10,758  4.6%  10.2%
 Full-size SUV/CUV  $13,715  $14,379  $12,265  -4.6%  11.8%
 Luxury SUV/CUV  $18,697  $18,141  $17,923  3.1%  4.3%
 Compact Pickup  $8,954  $8,757  $8,268  2.2%  8.3%
 Full-size Pickup  $16,039  $15,624  $15,209  2.7%  5.5%

Source: ADESA Analytical Services.