Typical for the Period, Used Market Softens in September, J.D. Power Finds
MCLEAN, Va.--(BUSINESS WIRE)--Nov 1, 2019--
In the October 2019 Used Car and Light Truck Guidelines Industry Update, analysts at J.D. Power Valuation Services note the used vehicle market slightly declined in September 2019. Through July, wholesale vehicle prices are on average 2.9% lower than during the same 9-month period in 2018. As a result, the J.D. Power Valuation Services’ Seasonally Adjusted Used Vehicle Price Index declined by 1.8%—relative to August—to 121.8.
Highlights from the free monthly report point out:
“In terms of individual segment performances, year-to-date mainstream passenger car price increases are outperforming SUVs, which also increased slightly,” said David Paris, Executive Analyst at J.D. Power Valuation Services. “We expect used vehicle prices to remain relatively strong at an industry level, and forecast a mild decline for the remainder of the year, barring any serious weather or economic changes.”
J.D. Power Valuation Services (formerly NADA Used Car Guide) is a leading provider of vehicle valuation products and services to businesses. The team collects and analyzes more than 1 million automotive and truck wholesale and retail transactions per month, and delivers a range of guidebooks, auction data, analysis and data solutions.
J.D. Power is a global leader in consumer insights, advisory services and data and analytics. These capabilities enable J.D. Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, J.D. Power has offices serving North America, South America, Asia Pacific and Europe.
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KEYWORD: VIRGINIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: AUTOMOTIVE OTHER AUTOMOTIVE
SOURCE: J.D. Power
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PUB: 11/01/2019 03:00 PM/DISC: 11/01/2019 03:01 PM