MCLEAN, Va., June 15, 2017 /PRNewswire/ -- Used vehicle analysts at J.D. Power Valuation Services note in their June 2017 Used Car and Light Truck Guidelines Industry Update that May wholesale prices declined by an average of 1.9 percent.
Major findings in the free monthly report also point out:
- J.D. Power Valuation Services' used vehicle price index increased.
- Index rose 0.8 percent to 111.1.
- New monthly vehicle deliveries fell once again.
- Sales declined 0.6 percent,
- New vehicle SAAR reached 16.58M.
- Incentive spending grew by double digits.
- Average spending per unit increased 11.9 percent.
When asked about May's 1.9 percent price drop, David Paris, executive analyst at J.D. Power Valuation Services said, "It's normal to see a drop the fifth month of the year. However, this May was a little different since the decline slightly outperformed what we've seen during the month the past 20 years."
Paris went on to say, "While the index may have increased by 0.8 percent during May, it was 7.6 percent below May of last year. That said, we expect wholesale prices of 8-year-old or younger vehicles to drop about 1.9 percent during June. We still expect prices to decline by about 6 percent for the year as a whole."
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 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 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.
J.D. Power Valuation Services
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/wholesale-used-vehicle-prices-decline-in-may-300474754.html
SOURCE J.D. Power