CARMEL, Ind. -

KAR Global chief economist Tom Kontos looked at both November and December pricing trends for his latest installment of the Kontos Kommentary.

After seeing the wholesale data, dealers again might be yearning for the days before the pandemic sent prices soaring like a fever.

According to KAR Global Analytical Services’ monthly analysis of wholesale used-vehicle prices by vehicle model class, Kontos report that wholesale prices in November averaged $16,163. That figure was down 0.9% compared to October but 32.9% relative to November 2020. It also was a whopping 48.0% above pre-COVID/November 2019.

Kontos then noted that wholesale prices in December averaged $16,026, representing a 0.8% dip compared to November. But the average marked a 34.8% jump relative to December 2020, and a 48.1% spike compared to pre-COVID/December 2019.

“The year-end price moderation generally affected all model classes equally but left prices for all segments well above year-ago and pre-pandemic levels,” Kontos said in the report that also contains an online video available here.

Kontos looked closer at midsize cars and midsize SUV/CUVs that are 3 years old with less than 45,000 miles, and the KAR Global expert discovered similar movements.

When holding constant for sale type, model-year-age, mileage, and model class segment — using criteria that characterize off-lease units — Kontos found that prices for these specific cars rose a startling 68.8% year-over-year in December to $20,352, while prices for these particular SUV/CUVs soared 46.4% year-over-year in the closing month of 2021 to land at $30,018.