Summary It would appear that the 2019 spring/tax season market started later but lasted longer than other years, as average wholesale prices were up on both a month-over-month and year-over-year basis in May. Retail used vehicle sales, including CPO sales, provided demand-side support for wholesale values. Details According to ADESA Analytical Services’ monthly analysis of Wholesale Used Vehicle Prices by Vehicle Model Class, wholesale used vehicle prices in May averaged $11,667—up 1.5% compared to April and up 5.0% relative to May 2018. Compact and midsize cars were two notable segments that experienced overall average price declines for the month. However, when holding constant for sale type, model-year age, mileage, and model class segment — using criteria that characterize off-lease units — prices were up more significantly on a year-over-year basis for midsize cars than for midsize SUV/CUVs, as seen in the following table: Average wholesale prices for used vehicles remarketed by manufacturers were down 1.2% month-over-month and down 0.7% year-over-year. Prices for fleet/lease consignors were up 2.0% sequentially and up 5.5% annually. Average prices for dealer consignors were up 1.7% versus April and up 4.3% relative to May 2018. Based on NADA data, retail used vehicle sales by franchised dealers […]