Wholesale Used-Vehicle Prices Slightly Down in Early September

Wholesale used vehicle prices experienced a slight decline in the first half of September. Despite a seasonal adjustment that lowered the overall results, prices decreased by 0.2% compared to August. This decline is attributed to the Labor Day holiday week, which typically has a lingering impact on the industry.

The decrease in prices has implications for the collision repair industry. Fewer vehicles are likely to be declared total losses, leading to a potential decrease in repair work. Additionally, consumers switching to higher deductibles to offset rising auto insurance premiums further contributes to a decline in repairable claims.

While the overall used-vehicle market saw a slight decline, some segments performed better than others. Compact cars and SUVs experienced price increases, while midsize cars and luxury vehicles saw declines. Electric vehicles (EVs) also continued to show a slight price increase compared to the previous month.

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