The average wholesale price of used vehicles sold at auction in July fared better than the year-ago price, according to ADESA, Inc. an auto action company. But that figure was 0.9 percent lower than June’s average price. 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. Kontos says dealers seem to be favoring more fuel-efficient cars over gasoline guzzling SUVs, while high july incentives on large trucks, and their abundance at auction, contributed to depressed prices. July’s average used-vehicle price was $9,295. The average large-SUV price of $15,004 in July showed a year-over-year decline of 6.3 percent. It was 0.5 percent below the June average price. The average price of small and mid-range cars in July was $7,146, a 5.4 percent increase over July 2003. But it was 2.2 percent below the June price.
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