MCLEAN, Va., April 26, 2018 /PRNewswire/ -- In their April 2018 Used Car and Light Truck Guidelines Industry Update, analysts at J.D. Power Valuation Services found that wholesale prices of used vehicles up to 8 years in age increased by an average of 2.5%. The month's performance can partially be attributed to strong price growth of vehicles within the compact and subcompact segments.
Highlights from the free monthly report also point out:
- The used vehicle price index increased
- Index was up 0.9 points to 115.9
- New vehicle deliveries rose
- Sales increased by 6.4%; new vehicle SAAR reached 17.40M
- Incentive spending increased
- Incentives grew for the 36th straight month
David Paris, executive analyst at J.D. Power Valuation Services said, "The strong performance we saw this past month has a lot to do with the compact and subcompact car prices that were the strongest in the industry. Compact car prices grew by 4.3% and subcompact car prices grew by 4.6%. Those results are about 2.5 points better than each segment's previous 5-year average for the period."
About J.D. Power
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 profit. Established in 1968, J.D. Power is headquartered in Costa Mesa, Calif., and has offices serving North/South America, Asia Pacific and Europe. J.D. Power is a portfolio company of XIO Group, a global alternative investments firm headquartered in London, and is led by its four founders; Athene Li, Joseph Pacini, Murphy Qiao and Carsten Geyer.
J.D. Power recently acquired NADA Used Car Guide (now J.D. Power Valuation Services), which 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.
SOURCE J.D. Power