Wholesale used vehicle prices for vehicles from fleet or lease consignors increased 4.1% in January from the prior month, but fell 0.3% from the same month a year ago, according to the latest Kontos Kommentary.
Prices started the year with a similar pattern to 2017 and reflect pre-hurricane activity, according to Tom Kontos, KAR Auction Services' chief economist. Car prices have "tended to fall, while truck prices provided a boost," Kontos said. Car and truck sales are moving toward parity because car values have shown strength in recent months.
Overall wholesale prices in January increased 1.6% in January from December and increased 0.3% from the prior year.
Typical fleet segments such as the midsize car and midsize SUV/CUV fell 0.4% to $11,513 and 1.1% to $20,236 respectively. These three-year-old units averaged between 36,000 and 45,000 miles.
The boost in values caused by demand from the two hurricanes that hit Texas and Florida in 2017 has ended, Kontos said.
Originally posted on Automotive Fleet