Used Vehicle Price Index Slips for Fourth Consecutive Month, J.D. Power Finds
McLEAN, Va., Jan. 30, 2019 /PRNewswire/ — In the January 2019 Used Car and Light Truck Guidelines Industry Update, analysts at J.D. Power Valuation Services note that the used vehicle market, typical for the period, declined again in December, marking the fourth consecutive month of declines. As a result, the Seasonally Adjusted Used Vehicle Price Index declined by 0.4 point, relative to November, to 119.6.
Highlights from the free monthly report point out:
- Wholesale Prices Decline in December
- Prices down by an average of 2.2%
- Used Vehicle Price Index Down
- Index falls to 119.6
- New Vehicle Sales Increase in 2018
- New vehicle sales reach 17.22M units
- Incentive Spending Declines
- Incentives decrease by 3.6% to $4,278 per unit
“On an annual basis, prices for mainstream passenger car segments were the strongest, with one of the primary drivers being the increase in used SUV supply,” said David Paris, Executive Analyst at J.D. Power Valuation Services. “Despite these increases in supply, there was still healthy demand for SUVs which helped keep the segment price movement positive.”
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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SOURCE J.D. Power