Auction volume was down 2.3% year-over-year for units up to five years old, and on a month-over-month basis, volume was down 16.3%, according to J.D. Power’s July Used Car and Light Truck Guidelines.
Taking June’s volume into account, year-to-date volume is 2.3% higher than in the same period last year, and it continues to grow on a month-to-month basis, the company added.
The largest volume gains have come from SUVs. Compact luxury SUV volume, in particular, has grown 53.3% while large SUV volume has grown 26.3%.
As of June, the segment volume share for cars and trucks is spilt at approximately 52% to 48%, in favor of cars.
J.D. Power forecasts a 6.5% increase in the supply of 5-year-old vehicles, which would be slightly less than the 6.6% increase seen in 2017. The company expects off-lease volume returning to auction to grow by 14.2% and rental supply to increase by 8%.
Supply will peak in 2019, before leveling off, according to J.D. Power.