WHOLESALE PRICES RISING ON USED CARS

Average wholesale used vehicle prices reversed the general softening they have shown since spring and rose significantly In October. When looked at on a weekly basis during the month of October, prices were actually declining during the first half of the month, but more than made up for lost ground during the second half of the month, according to ADESA Analytical Services. According to ADESA Analytical Services' monthly analysis of wholesale used vehicle prices by vehicle model class, wholesale used vehicle prices in October averaged $9,742 - up 2 percent compared to September and down 1.4 percent compared to October 2011. Prices for trucks were up more than those for crossovers and cars, as they have already taken a hit from higher gas prices over the past few years. The Openlane U.S. market index, which is based on data from the ADESA Openlane online marketplace, also rose by 2 percent month-over-month. Prices for used vehicles remarketed by manufacturers fell by 0.2 percent month-over-month in October, but were up 2.2 percent year-over-year. Fleet-lease consignors experienced a 2.6 percent decrease in October, leaving prices down 0.7 percent year-over-year. Dealer consignors saw a 0.5 percent average price increase versus September, resulting in prices being down 0.9 percent versus October 2011.