Wholesale prices in October tempered down from the high levels reached in August, according to J.D. Power’s November 2019 Used Car and Light Truck Guidelines Industry Update.
This decline is typical of this time of year, however, noted the report.
Mainstream vehicle prices declined between 2.8% and 5.7%. Meanwhile, premium segment prices declined from 3.7% to 5.4%.
“In general, losses matched expectations for the month in direction, however the degree of loss was amplified by significant increases in month-over-month and year-over-year wholesale volume,” the report stated.
Average wholesale volume was 5.2% higher than it was during the same time in 2018.
The bulk of that growth came from premium segment vehicles, as premium volume was up 6.9% year-over-year in 2019, compared to 4.9% growth from mainstream segment vehicles.