U.S. Used-Car Prices Drop

Wholesale prices of used cars in the U.S. fell 3.5% from September to October, according to NADA Used Car Guide.

The publication blames the slump on the federal government's two-week shutdown and resulting negative impact on consumer confidence.

Used-car prices in the first 10 months averaged $15,100, about the same as for January-October 2012.

Prices this year are running 9% higher for large pickup trucks and 8% higher for big SUVs. They're down slightly for small cars, luxury models and midsize cars. Prices for midsize crossovers and midsize vans are up 2% and 3.5%, respectively.

NADA notes that a seasonal selloff of used midsize vans by fleets in October boosted supplies of such models 19%, triggering a 5% drop in their average resale price.