Tom Kontos
Executive Vice President & Chief Economist
ADESA Analytical Services
Year-over-year wholesale price softening continued in May as they did February through April. The difference this time was that prices fell on a month-over-month basis, indicating Spring/Tax season is winding down or over. A strong volume of sales cushioned some of the price fall with retail sales of new, CPO, and used vehicle in May being impressive.
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Wholesale Used Vehicle Prices in May Averaged $9,811:
Down 2.8% from April and 4.5% from May 2012; 4.5% year-over-year decline matched April’s decline.
Softening Prices Did not Discriminate Between Cars, CUVs, SUVs, and Trucks:
Fullsize pickups a notable exception – up 0.1% from April and 5.2% year-over-year.
Certified Pre-Owned Vehicles Saw a Very Strong Sales Volume Month:
Up 6.1% month-over-month, and 19.2% year-over-year.