Overdrive by ADESA
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VIDEO: Kontos Kommentary for December 2016

VIDEO: Kontos Kommentary for December 2016


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Wholesale prices did a bit of an about-face in December, as truck price softening, perhaps influenced by higher gasoline prices, drove down overall results. New vehicle incentive activity also remained high, which, along with higher fleet sales, helped the year close out with a new record in sales but put downward pressure on wholesale values....
VIDEO: Kontos Kommentary for November 2016

VIDEO: Kontos Kommentary for November 2016


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Trucks continue to drive overall average wholesale prices upward, while car price softening more directly reflects supply growth for the used vehicle market in general. A new threat to used vehicle prices seems to be arising from increased new vehicle incentives, which have been relatively benign through this cycle of price softening, but which we...
VIDEO: Kontos Kommentary for October 2016

VIDEO: Kontos Kommentary for October 2016


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The softening wholesale price environment became more apparent in October, as wholesale supply continues to grow while retail demand weakened. A point I have not seen noted by other analysts is that new vehicle sales for the year finally fell behind last year’s year-to-date levels, indicating that 2016 will not match 2015 record in total...
VIDEO: Kontos Kommentary for September 2016

VIDEO: Kontos Kommentary for September 2016


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Average wholesale values were flat in September, but remained up on a year-over-year basis primarily on the strength of truck prices and a higher proportion of pricier off-lease units. Retail used vehicle sales, including CPO sales, were relatively weak, though both remain up for the year. To read the entire Kontos Kommentary used vehicle market...
VIDEO: Kontos Kommentary for August 2016

VIDEO: Kontos Kommentary for August 2016


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Average wholesale values fell modestly and in line with typical seasonal patterns in August. Prices were again up on a year-over-year basis largely because of the continued price strength of trucks and a richer mix of younger, lower-mileage, higher-priced, off-lease units. Retail used vehicle sales, including CPO sales, also experienced seasonal declines in August, though...
VIDEO: Kontos Kommentary for July 2016

VIDEO: Kontos Kommentary for July 2016


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Average wholesale values fell again seasonally in July, but they remain up on a year-over-year basis largely because of the continued price strength of trucks and continued growth of younger, lower-mileage, higher-priced off-lease supply. Recalls also played a role in the overall positive price performance, so it is not clear how wholesale prices might have...
VIDEO: Kontos Kommentary for June 2016

VIDEO: Kontos Kommentary for June 2016


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Average wholesale values fell again on a month-over-month basis in June, but they remain up on a year-over-year basis largely because of the continued price strength of trucks. A portion of the month-over-month price decline can be explained by the usual falloff in prices from May to June, typifying the transition from the strong spring/tax...
VIDEO: Kontos Kommentary for May 2016

VIDEO: Kontos Kommentary for May 2016


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Average wholesale values fell relative to April, though they remain up on a year-over-year basis largely because of the price strength of trucks. Retail used vehicle sales were flattish on a year-over-year basis and certified pre-owned sales were down. This limited the demand-side support for wholesale values receiving downward pressure from supply growth. Watch the...
VIDEO: Kontos Kommentary for April 2016

VIDEO: Kontos Kommentary for April 2016


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The traditional Spring tax-season market appeared to wane in April, as average wholesale prices rose only modestly on both a sequential and annual basis. As in previous months, drilling down into the data reveals softness due to supply growth that is not as evident in the top-line numbers. On a positive note, retail used vehicle...