McLEAN, Va., Dec. 21, 2018 /PRNewswire/ -- In the December 2018 Used Car and Light Truck Guidelines Industry Update, analysts at J.D. Power Valuation Services note that the used vehicle market slowed down once again in November, marking the third consecutive month of declines. As a result, the Seasonally Adjusted Used Vehicle Price Index declined by 0.8 point, relative to October, to 119.7.
Highlights from the free monthly report point out:
- Wholesale Prices Decline in November
- Prices down by an average of 3.5%
- Used Vehicle Price Index Down
- Index declines 1 point to 119.7
- New Vehicle Sales Grow Slightly
- Sales remain relatively flat, new vehicle SAAR reaches 17.4 million
- Incentive Spending Declines Again
- Incentives decline for the third time since April 2015
"On the mainstream side of the market, prices this year have been supported by exceptionally strong performances of passenger cars, while mainstream SUV prices also expected to increase in 2018," said David Paris, Executive Analyst at J.D. Power Valuation Services. "The premium side of the industry is not performing nearly as well, as prices are expected to be down for most segments with some of the worst losses expected in the luxury mid-size car segment."
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