Used Vehicle Market Softens in October as Wholesale Volume Spikes
MCLEAN, Va.--(BUSINESS WIRE)--Nov 25, 2019--
In the November 2019 Used Car and Light Truck Guidelines Industry Update, analysts at J.D. Power Valuation Services note the used vehicle market declined in October 2019.
Highlights from the free monthly report point out:
- Wholesale prices decline in October
- Prices down by an average of 4.2%
- Used vehicle price index declines
- Index reaches 119.1
- Used wholesale volume grows
- Volume up 5.2% CYTD
“At an industry level, used vehicle prices are expected to finish out 2019 slightly up relative to 2018 — prices peaked in August and we expect they’ll continue to decline for the remaining months,” said David Paris, Executive Analyst at J.D. Power Valuation Services. “Incentives, used vehicle supply and credit conditions are expected to apply downward pressure on used vehicle prices, but the impact of other factors like gas and home prices, and labor conditions may support used vehicle prices in the near term.”
New for November is the Used Car and Light Truck Guidelines Plus Industry Update, which offers additional insight, data and forecasts monthly including year-to-date segment price performance, historic wholesale price performance, wholesale price retention, wholesale segment volume and used supply forecast along with the standard monthly used vehicle price index and month-over-month segment price performance. The monthly Guidelines Plus report is offered for an annual $299 subscription, but a one-time complimentary version is available for download.
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.
About J.D. Power and Advertising/Promotional Ruleswww.jdpower.com/business/about-us/press-release-info
View source version on businesswire.com:https://www.businesswire.com/news/home/20191125005164/en/
Geno Effler; Costa Mesa, Calif.; 714-621-6224;firstname.lastname@example.org
KEYWORD: IDAHO UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: OTHER RETAIL RETAIL GENERAL AUTOMOTIVE AUTOMOTIVE SPECIALTY
SOURCE: J.D. Power
Copyright Business Wire 2019.
PUB: 11/25/2019 09:00 AM/DISC: 11/25/2019 09:00 AM