June was an especially strong month for the used-vehicle market, resulting in J.D. Power Valuation Services’ Seasonally Adjusted Used Vehicle Price Index increasing 1.2 points from May to 118.2. Compared to a year ago, the index was up 4.1 points.
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Consumer are on pace to spend $38.9 billion on new vehicles in June, which is $1.8 billion more than last year’s level. The increase should more than offset the 0.6% decrease in new-vehicle sales for the month, which are expected to total 1.2 million units.
Read More →New vehicles sales in May grew by 4.8% on a year-over-year basis in May, while average incentive spend increased for the 38th month in a row.
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Wholesale prices for used vehicles up to 8 years old fell 1.7% month-over-month in May, a level that’s typical for this time of year, according to J.D. Power’s June Used Car and Light Truck Guidelines. Auction volume up 12% month-over-month, 2.6% year-over-year.
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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.
Read More →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%.
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Used truck prices are holding steady, with supply still dictating pricing. That’s the word from J.D. Power’s Commercial Truck Guidelines for March, which notes that February is the first month in any new year with a high enough volume of used truck auctions to allow analysts to identify market trends.
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Even with the decline in February, however, overall late-model volume in the month was still 5.8% higher than in February 2017 due to volume growth in previous months.
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In a reversal from the new-vehicle trend of trucks overtaking cars in market share, auction volume from the 2015 to 2018 model years favored the car segment in January. Late-model car auction volume accounted for 54% of the auction volume in January while trucks accounted for 46%.
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Buick and Lexus ranked highest in overall vehicle dependability, which improved 9% overall in the past year, according to J.D. Power's annual Vehicle Dependability Study. Fleets using a three-year replacement model may benefit from higher resale prices.
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