Auction sales volume of 8-year-old models totaled 366,212 units in May, a decline of 3% compared to the previous month and a nearly 2% increase from the same time last year, according to J.D. Power’s Used Car and Light Truck Guidelines June Industry Update.
Much of the month-over-month decline was attributed to older model vehicles, as the sales volume for late model units — those up to 3 years old — remained essentially unchanged compared to the previous month, according to J.D. Power.
One of the best-performing late-model segments on a month-to-month basis was the compact car segment, which saw volume sold at auction increase by 6%. Large pickups and mid-size car volume also grew by 2% and 1%, respectively.
Meanwhile, subcompact car, mid-size pickup, and mid-size van volume fell by 3%, 4%, and 10%, respectively.
On a year-over-year basis, two of the best-performing late-model segments in terms of auction volume growth were luxury compact utilities and mid-size pickups, which saw volume grow by 50% and 37%, respectively. Alternatively, luxury mid-size and compact cars saw auction volume decrease by 27% and 10%, respectively.
Through the first five months of the year, 1,235,897 late model units have been sold at auction, a figure 7% greater than the same period in 2016.