MCLEAN, Va., June 21, 2018 /PRNewswire/ -- In the June 2018 Used Car and Light Truck Guidelines Industry Update, analysts at J.D. Power Valuation Services note the used vehicle market turned a typical performance in May. As a result, the J.D. Power Valuation Services' Seasonally Adjusted Used Vehicle Price Index remained flat, compared to April at 117.0. May's index increased 3.1 points year over year, and 2.5 points above where it sat in January.
Highlights from the free monthly report also point out:
- Wholesale Prices Decline in May
- Prices fall by an average of 1.7%
- Used Vehicle Price Index Remains Unchanged
- Index holds at 117.0
- New Vehicle Sales Increase
- Sales grow 4.8%, new vehicle SAAR reaches 16.81
- Incentive Spending Increased
- Incentives grow for 38th straight month
"Despite wholesale prices declining in May, the 2018 used vehicle market outlook remains positive," said David Paris, Executive Analyst at J.D. Power Valuation Services. "Prices of vehicles up to eight years in age are expected to increase by 0.8% year over year."
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 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 and private equity firm headquartered in London, and is led by its four founders: Athene Li, Joseph Pacini, Murphy Qiao and Carsten Geyer.
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SOURCE J.D. Power