CARMEL, Ind. -

As highlighted in this recent profile of him in Auto Remarketing, KAR Global chief economist Tom Kontos knows what a constant beat is.

And in this case, it’s wholesale prices continuing to soften while remaining above year-ago and pre-COVID-19 readings.

According to KAR Global Analytical Services’ monthly analysis of wholesale used-vehicle prices by model class, wholesale prices in October averaged $12,478. That reading is 3.5% lower compared to September, but it’s 10.1% higher compared to the pre-pandemic level seen in February and 12.0% higher relative to October of last year.

“Average wholesale used vehicle prices fell from their August peaks for the second month in a row in October,” the prolific drummer said in the latest installment of the Kontos Kommentary.

“Dealer demand has dropped largely because inventories of new and used vehicles have started to rebound, giving franchised dealers in particular, more selection to offer retail customers,” Kontos continued.

“Retail used-vehicle sales, in turn, have slowed as stimulus money has evaporated. Nevertheless, prices overall remain up by double-digits on a year-over-year basis and versus pre-COVID,” he went on to say.

And like he does on constant cadence as well, Kontos took a deeper look at 3-year-old midsize cars and SUVs/CUVs.

When holding constant for sale type, model-year-age, mileage and model class segment — using criteria that characterize off-lease units — he discovered prices increased a year-over-year basis in October for those specific midsize cars and SUV/CUVs.

Values for those particular cars rose $1,124 or 9.6% to $12,822 while prices for those specific SUVs/CUVs climbed $1,721 or 8.6% to $21,768.

KAR Global Wholesale Used-Vehicle Price Trends
   Average  Price  ($/Unit)    Latest  Month  Versus
   Oct. 2020  Sept. 2020 February 2020  Oct. 2019  Prior Month Pre-COVID-19  Prior Year
               
 Total All Vehicles  $12,478  $12,928  $11,338  $11,136  -3.5%  10.1%  12.0%
               
 Total Cars  $9.013  $9,348  $8,361  $8,304  -3.6%  7.8%  8.5%
 Compact Car  $6.581  $6,819  $6,535  $6,248  -3.5%  0.7%  5.3%
 Midsize Car  $7,545  $7,910  $7,317  $7,093  -4.6%  3.1%  6.4%
 Full-size Car  $8,315  $9,036  $7,765  $7,734  -8.0%  7.1%  7.5%
 Luxury Car  $14,737  $15,075  $12.660  $13,134  -2.2%  16.4%  12.2%
 Sporty Car  $16,712  $17,470  $13,874  $13,769  -4.3%  20.5%  21.4%
               
 Total Trucks  $14,936  $15,461  $13,530  $13,224  -3.4%  10.4%  12.9%
 Minivan  $8,267  $8,963  $8,286  $7,900  -7.8%  -0.2%  4.7%
 Full-size Van  $13,134  $13,793  $13,183  $13,102  -4.8%  -0.4%  0.2%
 Compact SUV/CUV  $10,874  $11,242  $10,490  $10,917  -3.3%  3.7%  -0.4%
 Midsize SUV/CUV  $13,497  $14,106  $12.750  $11,702  -4.3%  5.9%  15.3%
 Full-size SUV/CUV  $16,168  $16,717  $16,360  $14,847  -3.3%  -1.2%  8.9%
 Luxury SUV/CUV  $20,844  $21,104  $18,714  $18,492  -1.2%  11.4%  12.7%
 Compact Pickup  $14,296  $15,162  $11,267  $10,917  -5.7%  26.9%  31.0%
 Full-size Pickup  $20,583  $21,442  $16,386  $16,300  -4.0%  25.6%  26.3%

Source: KAR Global Analytical Services.