Auction prices for fleet lease vehicles have increased 1.8% through July even with a 0.1% decline in the month amid "price softening," according to Tom Kontos' latest commentary.
Sales of off-lease fleet mid-size cars fell 1.8% to $11,522, while sales of off-lease fleet midsize SUVs fell 2.5% to $19,979 year over year. Vehicles tracked were three years old with between 36,000 and
Overall wholesale prices fell in July, which is typically a slower period in the vehicle remarketing industry, and have remained up year to date mostly due to the strength of pickup prices, Kontos said in his Kontos Kommentary for July.
Wholesale used vehicle prices in July averaged $10,938, which was down 1% compared to June and up 1.3% relative to July of 2016, according to ADESA Analytical Services' monthly analysis. Cars were down month-over-month and were down year-over year for cars as a whole.
Average prices for dealer consignors were down 0.9% versus June and up 2.2% relative to July 2016. Based on NADA data, July retail used vehicle sales by franchised and independent dealers were down a combined 2.3% year-over-year. July CPO sales were down 3.2% year-over-year according to figures from Autodata, but remain up 0.6% on a year-to-date basis, according to Kontos.
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