Wholesale used car prices fall, likely to fall again in October

Wholesale used car prices fall, likely to fall again in October

As auctions are seeing the effects of increased off-lease volume, wholesale prices of vehicles up to eight years old fell by 3.6 percent in September, according to the NADA Used Car Guide. Prices are forecast to fall again in October, by 3.2 percent to 3.7 percent.

The September drop was the largest recorded yet this year. The loss was led by mainstream small cars, as subcompacts and compacts lost 4 percent each. Large cars saw a loss of 3.7 percent. Compact and large utility vehicles lost 3.2 percent and 3 percent, respectively.

As they have been for several months, pickup price losses were again very light, with midsize pickups losing just 1.6 percent and large pickup prices falling 1.3 percent.

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