MCLEAN, Va., May 21, 2018 /PRNewswire/ -- In their May 2018 Used Car and Light Truck Guidelines Industry Update, analysts at J.D. Power Valuation Services note the used vehicle market performed well in April with prices stronger than expected. Compared to March, wholesale prices of used vehicles up to 8 years in age increased by 0.2 percent for the month.
Highlights from the free monthly report also point out:
- Used Vehicle Price Index Increased
- Index bumped up 1 point to 117.1
- New Vehicle Daily Sales Rate Increased
- DSR rose 2.9%, new vehicle SAAR reached 17.07M
- Incentive Spending Increased
- Incentives grew for 37th straight month
David Paris, executive analyst at J.D. Power Valuation Services said, "April's performance was definitely not the norm. In fact, it was the best performance we've seen in April since 2011."
Paris went on to say, "That all said, we've observed the development of a trend that began four years ago in 2014. It seems that prices have been stronger year-over-year for the April period. The performance can be attributed to an extended spring rebound in used vehicle prices that we traditionally see during the first quarter of the year."
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