July wholesale used-vehicle prices fall from June level.(Used Cars)(Brief Article)

Automotive News, August, 2004 by Sawyers, Arlena

Byline: Arlena Sawyers

The average wholesale price of used vehicles sold at auction in July exceeded the year-ago price. But it was lower than the average price in June 2004.

July's average used-vehicle price of $9,295 was 0.9 percent below June's average price of $9,378. It was 2.1 percent higher than the July 2003 average price of $9,103, according to ADESA Inc., an auto auction company in Carmel, Ind.

Tom Kontos, ADESA's vice president of industry relations and analytical services, says small and mid-range cars showed the biggest year-over-year percentage price increase last month. The large-SUV segment had the largest price decline.

Kontos says dealers seem to be favoring more fuel-efficient cars over gasoline guzzling SUVs....

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