By Auto Remarketing Staff
As highlighted in this recent profile of him in Auto Remarketing, KAR Global chief economist Tom Kontos knows what a constant beat is.
And in this case, it’s wholesale prices continuing to soften while remaining above year-ago and pre-COVID-19 readings.
According to KAR Global Analytical Services’ monthly analysis of wholesale used-vehicle prices by model class, wholesale prices in October averaged $12,478. That reading is 3.5% lower compared to September, but it’s 10.1% higher compared to the pre-pandemic level seen in February and 12.0% higher relative to October of last year.
“Average wholesale used vehicle prices fell from their August peaks for the second month in a row in October,” the prolific drummer said in the latest installment of the Kontos Kommentary.
Read the complete article on autoremarketing.com.