Late-model auction volume was down 1.6% year-over-year in April, according to J.D. Power’s May Used Car and Light Truck Guidelines.
Year-to-date, late-model volume is 2.8% lower than where it was a year ago. However, trends are indicating that volume will grow in the coming months, leading to a year-over-year growth in late-model volume by the end of the year.
Most of the gains to late-model volume are coming from SUV segments, J.D. Power noted. The luxury compact utility segment in particular has seen its late-model volume grow significantly — it’s up 74% this year.
Although SUV segments are driving volume, cars still continue to account for the larger percentage of late-model vehicles in the market. As of this latest J.D. Power report, cars account for 51% of late-model volume while trucks account for 49%.