NAAA: September Wholesale Volume Up, Prices Down
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FREDERICK, Md. –
The latest trend data prepared by the National Auto Auction Association showed how much September volume went up while prices softened in the wholesale market.
NAAA information indicated last month’s volume ticked up by 0.6 percent compared to September of last year. However, economist Ira Silver pointed out that year-to-date, auction volume is off by 0.5 percent.
Meanwhile, Silver noted that wholesale prices are down both year-over-year and year-to-date.
The association said September prices dipped by 1.2 percent in comparison to the same month last year. Year to date, prices are down by 1.6 percent, according to Silver’s calculations.
Silver’s latest economic dashboard also touched on September’s used- and new-vehicle sales as well as real consumer spending in August.
—Used Sales: up 8.8 percent year-over-year; 4.0 percent year-to-date
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—New Sales (seasonally adjusted): up 13.6 percent year-over-year; up 14.0 percent year-to-date
—Real Consumer Spending: up 1.9 percent year-over-year; up 1.9 percent year-to-date