MCLEAN, Va., Nov. 16, 2017 /PRNewswire/ -- In their November 2017 Used Car and Light Truck Guidelines Industry Update, analysts at J.D. Power Valuation Services note wholesale depreciation declined by an average of 2.2 percent in October. The dip performed better than the 3.2 percent average price decrease recorded over the past five years for the period.
Highlights from the free monthly report also point out:
- The J.D. Power Used Vehicle Price Index rose
- Index climbed by 1 percent to 111.5
- New vehicle deliveries disappointed the automotive industry once again
- Sales declined by 1.4 percent and the new vehicle SAAR reached 17.98M
- Incentive spending continued its upward trend
- Incentives increased for the 31st month in a row
David Paris, executive analyst at J.D. Power Valuation Services said, "In spite of the slight dip, used vehicle prices remained strong during the month due to lingering effects from hurricanes Harvey and Irma."
Paris went on to say, "As a result of the month's performance, our index increases for the third month in a row."
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.
Ryan Morris | J.D. Power Valuation Services | 202-826-4029 | [email protected]
SOURCE J.D. Power