ADESA: CPO Sales See Increase, TrueCar: Launches Pre-Owned Value Awards March 24, 2016

Tax Season Helps Used Car Prices Continue to Soften

Tom Kontos
Executive VP & Chief Economist
ADESA Analytical Services

February saw cumulative supply increasing, this time pushed further by the normal seasonal pattern of spring tax season. Prices continued to soften during the month, down from January. Wholesale used vehicle prices averaged $10,202 – down 0.5% from January but up 0.3% compared to February 2015. Car and minivan prices continued to decline from the previous year, while SUVs/crossovers and pickups had price gains.

See Kontos Kommentary Current Used Vehicle Market Conditions

Prices for Fleet/Lease Consignor Sales Down 2.0% M-O-M and 1.8% Y-O-Y:
Volumes rose significantly versus prior year partly from of higher off-lease volumes.

Franchised Dealers Had 11.9% Increase and Independents Up 15.5% Y-O-Y:
Both down significantly on a month-over-month basis for second month in a row.

February CPO Sales Up 10.8% M-O-M and 7.1% Y-O-Y:
February sales more than made up for CPO declines during January.

Toyota and Infiniti Take TrueCar’s Pre-Owned Value Awards

Jim Nguyen
TrueCar EVP
and General Manager of ALG

TrueCar introduced its first-ever Pre-Owned Value Awards (POVA) during the 2016 New York International Auto Show. Toyota won the top Mainstream Brand and Infiniti the top Premium Brand. The new award is powered by ALG and recognize 2014 models across 27 segments available for resale in 2016 and that are expected to retain the highest percent of their value over the next three years.

See the TrueCar announcement on the POVA awards

Toyota Tacoma Won TrueCar and 2015 ALG Residual Value Award for 2016 MY:
Other winners of both awards: Toyota Sequoia, Mercedes Sprinter, and Mini Cooper Hardtop.

Infiniti’s Robust CPO Program and Transferable Warranty Placed it High on List:
QX60 premium midsized utility, a volume leader for Infiniti, ranked top in segment.

Toyota Took Top Rank in Seven Awards across Both Car and Truck Segments:
Both Ford and Hyundai won POVA awards in three categories.
Expert Video Recap
Video news that moves people and ideas
Kontos Kommentary_Feb 2016
Kontos Kommentary – February 2016 Edition

Wholesale prices were down in February from January, which is an anomaly, says Tom Kontos in his monthly video.

Video News & Opinions
Video news that moves people and ideas
Visser_Chris_March 2016
March 2016 Used Commercial Truck Update

Chris Visser talks about how the used commercial truck market performed during February 2016.

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