Both portions of the RVI Group’s latest analysis of wholesale prices showed an upturn from June to July but softening versus year-ago figures.
The RVI Used Vehicle Price Index (Real) increased from June to July by 0.9 percent. However, when compared to July of 2016, prices were down by 3.8 percent.
The firm’s Used Vehicle Price Index (Nominal) also climbed by 0.9 percent in July when compared to June. When compared to July of last year, the index fell by 1.4 percent.
Analysts indicated used-vehicle prices for most segments are down on a year-over-year basis.
“Prices of full-size pickups increased slightly while prices of compact cars and full-size sedans show greater declines on a year-over-year basis than the rest of the market,” they said in the analysis.
RVI Group pegged the decline for compact cars and full-size sedans at 6.6 percent and 8.3 percent, respectively.
Also of note, the report noted a 5.4-percent year-over-year price decline for both midsize SUVs and small sedans.
Elsewhere in RVI Group’s latest analysis, the firm noted that on a year-over-year basis, new-vehicle prices ticked 0.12 percent higher in June.
Analysts added that new-vehicle transaction prices, on a seasonally adjusted basis decreased by 0.3 percent from May to June.
Finally, RVI Group pointed out that gas prices fell in July to $2.41 percent gallon from $2.46 per gallon in June. In July, gas prices fell by 1.9 percent from the previous month. On a year-over-year basis, prices were up by 2.9 percent.