McLEAN, Va., Sept. 20, 2019 /PRNewswire/ -- In the September 2019 Used Car and Light Truck Guidelines Industry Update, analysts at J.D. Power Valuation Services note the used vehicle market continues to perform well. Through August, used vehicle prices are on average 2% greater than during the same 8-month period in 2018. In terms of August, the used vehicle market's performance was also better than historic figures for the period. As a result, the J.D. Power Valuation Services' Seasonally Adjusted Used Vehicle Price Index increased by 0.7% – relative to July – to 123.6.
Highlights from the free monthly report point out:
- Wholesale Prices Decline in August
- Prices down by an average of 0.4%
- Used Vehicle Price Index Increases
- Index reaches 123.6
- New Vehicle Sales Increase
- SAAR reaches 17M
- Incentive Spending Increases
- Average spend up 7.1%
"At an industry level, used vehicle prices are expected to remain relatively strong moving forward," said David Paris, Executive Analyst at J.D. Power Valuation Services. "From where prices are currently through the remainder of the year, we are expecting a mild decline, which barring any serious weather impact or economic changes should hold true. Used supply will be mixed, positive for cars, negative for SUVs and trucks. The impact of other factors including gas prices, home prices, and labor conditions are is expected to be neutral-to-supportive of used prices."
J.D. Power Valuation Services (formerly NADA Used Car Guide) is a leading provider of vehicle valuation products and services to businesses. The team collects and analyzes more than 1 million automotive and truck wholesale and retail transactions per month, and delivers a range of guidebooks, auction data, analysis and data solutions.
J.D. Power is a global leader in consumer insights, advisory services and data and analytics. These capabilities enable J.D. Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, J.D. Power has offices serving North America, South America, Asia Pacific and Europe.
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SOURCE J.D. Power