The estimated seasonally adjusted annualized rate of U.S. new vehicle sales continues to hover around the 17 million-unit mark after several major manufacturers enjoyed year-over-year improvements in November.
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.
Incentive spending is projected to reach $4,159 (up 6% or $246), the highest level ever for the third quarter and just $28 short of the all-time quarter high set in Q4 2017.
J.D. Power Valuation Services’ September 2019 Used Car and Light Truck Guidelines report finds the pre-owned market continues to perform well for auto dealers, registering a 2% increase in average prices from January to August compared with the same period a year ago.
The trucks and vans that topped J.D. Power's lists for 2019 Resale Value awards include the GMC Sierra 3500, Toyota Tundra, Toyota Tacoma, and Honda Odyssey minivan, the firm announced.
The amount of vehicles in auction that are 5 years old or newer increased 0.3% year-over-year in June, according to J.D. Power's July 2019 Used Car and Light Truck Guidelines.
The passenger car segment was a main contributor to the the rise in used-vehicle prices in 2018.
All vehicle segments, except for large utility vehicles experienced a decline in auction volume through the month, the report added.
The pricing for medium-duty trucks at auction was down for the second month in a row in September, according to J.D. Power’s October Commercial Truck Guidelines Industry Update.
The used-vehicle market has performed exceptionally well so far in 2018, with J.D. Power Valuation Services’ Adjusted Used Vehicle Price Index reaching 119.3 through July. That’s 4.7 percentage points above year-ago levels and 4.8 points above January’s reading.