MCLEAN, Va., Sept. 24, 2018 /PRNewswire/ -- In the September 2018 Used Car and Light Truck Guidelines Industry Update, analysts at J.D. Power Valuation Services note the used vehicle market continued with the trend from June making the Seasonally Adjusted Used Vehicle Price Index increased by 2.2 points – relative to July – to 121.9. Additionally, the index ended the month 6.3 points above August 2017's level.
Highlights from the free monthly report also point out:
- Wholesale Prices Increase in August
- Prices up by an average of 0.7%
- Used Vehicle Price Index Increases
- Index rises 2.2 points to 121.9
- New Vehicle Sales Unchanged
- Sales remain flat, new vehicle SAAR slips to 16.6 million
- Incentive Spending Grows
- Incentives grow for 41st straight month
"The used vehicle market started showing its strength in the middle half of 2017, and there are no signs of it letting up," said David Paris, Executive Analyst at J.D. Power Valuation Services. "Most of the market's life in prices has been driven primarily by mainstream car growth, however, mainstream utility segments continue to show firmness as well."
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