CARMEL, Ind. -

KAR Auction Services chief economist Tom Kontos didn’t need an elaborate explanation to describe movements associated with the October wholesale price data he and his team assembled.

According to ADESA Analytical Services’ monthly analysis of wholesale used-vehicle prices by vehicle model class, wholesale prices in October averaged $11,059.

That’s 0.7 percent higher compared to September and 0.8 percent above last October’s reading.

“Strong retail sales supported used-vehicle values in October, as wholesale prices recovered from declines in September,” Kontos said.

Where price movements ended up being more pronounced came when Kontos and the KAR team checked 3-year-old vehicles with 36,000 to 45,000 miles. When holding constant for sale type, model-year age, mileage, and model class segment, prices were up more significantly on a year-over-year basis for both midsize cars and midsize SUV/CUVs.

Kontos indicated midsize car prices in that slice climbed 4.4 percent or $494 to $11,786. He added that midsize SUV/CUV price jumped 6.2 percent or $1,147 to $19,769.

The KAR expert continued his latest Kontos Kommentary by noting average wholesale prices for used vehicles remarketed by manufacturers rose 1.0 percent month-over-month and 1.1 percent year-over-year.

Meanwhile, Kontos pointed out that prices for fleet/lease consignors softened 2.0 percent sequentially but increased 6.1 percent year-over-year.

He also mentioned average prices for dealer consignors were down 2.4 percent versus September and 2.3 percent relative to October 2017.

Kontos closed his latest update by sharing sales information he received from the National Automobile Dealers Association.

Retail used-vehicle sales by franchised dealers increased 11.8 percent year-over-year in October and 10.6 percent for independent dealers. 

Kontos added that October certified pre-owned sales ticked 0.9 percent lower from the prior month but climbed 6.4 percent year-over-year, according to figures from Autodata. On a year-to-date basis, he said CPO sales are up 2.2 percent versus last year.

ADESA Wholesale Used-Vehicle Price Trends
   Average  Price  ($/Unit)  Latest  Month Versus
   October 2018  September 2018  October 2017  Prior Month  Prior Year
           
 Total All Vehicles  $11,059  $10,981  $10,970  0.7%  0.8%
           
 Total Cars  $8,672  $8,617  $8,718  0.6%  -0.5%
 Compact Car  $6,586  $6,533  $6,578  0.8%  0.1%
 Midsize Car  $7,565  $7,491  $7,846  1.0%  -3.6%
 Full-size Car  $7,874  $7,655  $7,109  2.9%  10.8%
 Luxury Car  $13,311  $13,380  $13,680  -0.5%  -2.7%
 Sporty Car  $14,315  $14,327  $13,922  -0.1%  2.8%
           
 Total Trucks  $13,079  $12,949  $13,081  1.0%  0.0%
 Minivan  $8,660  $8,314  $8,775  4.2%  -1.3%
 Full-size Van  $12,547  $13,365  $13,091  -6.1%  -4.2%
 Compact SUV/CUV  $11,025  $10,781  $10,630  2.3%  3.7%
 Midsize SUV/CUV  $11,551  $11,144  $11,272  3.7%  2.5%
 Full-size SUV/CUV  $14,061  $13,941  $13,832  0.9%  1.7%
 Luxury SUV/CUV  $18,218  $18,285  $19,059  -0.4%  -4.4%
 Compact Pickup  $10,046  $9,981  $9,359  0.7%  7.3%
 Full-size Pickup  $16,224  $16,317  $16,640  -0.6%  -2.5%

Source: ADESA Analytical Services.