The Beat Goes on When Kontos Looked at October Wholesale Values
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.