MCLEAN, Va., March 19, 2018 /PRNewswire/ -- In their March 2018 Used Car and Light Truck Guidelines Industry Update, analysts at J.D. Power Valuation Services note wholesale depreciation declined by an average of 0.2 percent in February. The month's performance was better than February 2017's 0.9% decline.
Highlights from the free monthly report also point out:
- The used vehicle price index increased
- Index was up 0.2 points to 114.5
- New vehicle deliveries declined
- Sales fell in February by 2 percent; new vehicle SAAR reached 16.96M
- Incentive spending increased
- Incentives grew for the 35th straight month
David Paris, executive analyst at J.D. Power Valuation Services said, "The Large SUV segment experienced the largest loss on the mainstream side of the market. For the second month in a row, prices declined by 2.1%. Last year, prices for the segment fell by 1.6%, however, over the course of the past five years, prices for the group averaged a lesser 0.3%. One driver behind this is a hefty 26.7% increase in late-model auction volume year-to-date compared to 2017."
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