By Auto Remarketing Staff
CARMEL, Ind. – If Tom Kontos wanted to speak in the language of his nationality when describing wholesale prices for pickups, the KAR Global chief economist would say “idiaítera dynatós,” which is Greek for “particularly strong.”
Pickups are among the seven vehicle segments with wholesale prices at least 26% higher than a year ago, according to the August Kontos Kommentary released on Thursday.
Overall, KAR Global Analytical Services monthly analysis of wholesale used vehicle prices by vehicle model class showed that wholesale prices in August averaged $13,498 — up 0.9% compared to July, up 19.1% from pre-COVID/February and 20.1% higher than August of last year/
“Wholesale used-vehicle prices continued to outperform expectations in August and well into September, especially when looked at on a year-over-year basis. On a month-over-month basis, however, August prices were fairly flat relative to July,” Kontos said.
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