SUV segments drove auction volume in March, according to J.D. Power’s April Used Car and Light Truck Guidelines Industry Update. Luxury compact utility volume was up 71.7% and large utility volume was up 27.8%.
Even with most of the volume growth among auctions coming from SUVs, however, car segment volume still outnumbered truck segment volume. In terms of volume share, the car segment comprised 52% of the vehicles found at auction, while the truck segment comprised 48%.
Historically, this higher volume of cars has hurt car segment values at auction, given consumer preference toward trucks. Through March and parts of April, however, this has not been the case. For a little over a month now, overall car segment values have experienced week-over-week growth through.
Overall late-model auction volume increased 13.4% month-over-month in March. On a year-over-year basis, late-model auction volume was down 11.7%.