Late-model auction volume declined 11.5% year-over-year in February, according to J.D. Power.
Even with the decline in February, however, overall late-model volume in the month was still 5.8% higher when compared to February 2017 due to volume growth in previous months.
Overall late-model vehicle supply continues to favor vehicles in the car segment as the volume share in February was split 53% to 47% in favor of cars versus trucks. Some of the biggest volume growth, however, is being seen in SUV segments. Luxury compact utility volume was up 69.3% in the month while large utility volume was up 26.7%.
Looking toward the end of March, wholesale prices for vehicles up to 8 years old are expected to increase 1.2%. Looking at 2018 as a whole, the current forecast is for used vehicle prices to decline 1.5% by the end of 2018.