CARMEL, Ind. -

Wholesale prices are softening, but KAR Global’s September data show they still have a way to go before returning the level auctions and dealers saw a year ago — or even before the pandemic arrived.

According to KAR Global Analytical Services’ monthly analysis of wholesale used-vehicle prices by vehicle model class, wholesale prices in September averaged $12,928, which is down 4.2% compared to August.

However, that average remains 14.0% higher compared to pre-COVID/February and 15.9% relative to September of last year.

“Average wholesale used vehicle prices softened from their August peaks in September and into October as retail sales slowed and dealer inventories grew,” KAR Global chief economist Tom Kontos said in his latest installment of the Kontos Kommentary that contained the data.

“Prices remain up by double-digits on a year-over-year basis and versus pre-COVID,” he added.

Kontos also mentioned vehicles that often become certified pre-owned units still are posting average values higher than a year ago, too.

When holding constant for sale type, model-year-age, mileage and model class segment — using criteria that characterize off-lease units — KAR reported that prices were up on a year-over-year basis for midsize cars and midsize SUV/CUVs in September.

For those midsize cars, the jump came in at $963, or 7.9%, to move the average $13,203. For those midsize SUV/CUVs, the rise totaled $1,155 or 5.5%, pushing average values to $22,170.

Editor’s note: Coming soon is a feature about Kontos celebrating 20 years with the company.

KAR Global Wholesale Used-Vehicle Price Trends
   Average  Price    ($/Unit)  Latest  Month  Versus
   Sept. 2020  August 2020 February 2020  Sept. 2019  Prior Month Pre-COVID-19  Prior Year
               
 Total All Vehicles  $12,928  $13,498  $11,338  $11,155  -4.2%  14.0%  15.9%
               
 Total Cars  $9.348  $9,820  $8,361  $8,369  -4.8%  11.8%  11.7%
 Compact Car  $6.819  $7,243  $6,535  $6,387  -5.9%  4.3%  6.8%
 Midsize Car  $7,910  $8,365  $7,317  $7,201  -5.7%  8.1%  9.8%
 Full-size Car  $9,036  $9,752  $7,765  $7,653  -7.3%  16.4%  18.1%
 Luxury Car  $15,074  $15,522  $12.660  $13,005  -2.9%  19.1%  15.9%
 Sporty Car  $17,470  $18,033  $13,874  $14,170  -3.1%  25.9%  23.3%
               
 Total Trucks  $15,461  $16,067  $13,530  $13,257  -3.8%  14.3%  16.6%
 Minivan  $8,963  $9,739  $8,286  $8,201  -8.0%  8.2%  9.3%
 Full-size Van  $13,793  $14,632  $13,183  $14,019  -5.7%  4.6%  -1.6%
 Compact SUV/CUV  $11,242  $11,815  $10,490  $10,981  -4.9%  7.2%  2.4%
 Midsize SUV/CUV  $14,106  $14,834  $12.751  $11,678  -4.9%  10.6%  20.8%
 Full-size SUV/CUV  $16,717  $19,136  $16,358  $14,435  -12.6%  2.2%  15.8%
 Luxury SUV/CUV  $21,103  $21,876  $18,714  $18,351  -3.5%  12.8%  15.0%
 Compact Pickup  $15,162  $15,117  $11,267  $10,958  0.3%  34.6%  38.4%
 Full-size Pickup  $21,442  $21,552  $16,386  $16,488  -0.5%  30.9%  30.0%

Source: KAR Global Analytical Services.