Used Vehicle Market in Full Recovery Say J.D. Power
J.D. Power Monthly Used Vehicle Guidelines Plus Report Now Available to Subscribers
MCLEAN, Va. June 18, 2020; In the June 2020 Used Car and Light Truck Guidelines Plus Industry Update, analysts from J.D. Power Valuation Services reported that wholesale used vehicle activity steadily improved over the course of May as the market moved towards recovery of both sales volumes and prices. On an index basis, J.D. Power’s Used Vehicle Price Index increased by 8.3% in May vs. April and prices ended the period 6.8% below May 2019’s level.
“Wholesale auction prices improved for the sixth consecutive week through the week ending May 31. Prices grew by an impressive 14 percentage points during this time which is a substantial improvement from the 16% trough recorded the week ending April 19,” said David Paris, executive analyst at J.D. Power Valuation Services. “While the rate of improvement is expected to slow due to an anticipated rise in wholesale supply in June and July, auction prices are expected to steadily recover over the remainder of 2020, finishing the year down by approximately 2% to 4% vs. 2019.”
Major findings in the Guidelines Plus report:
Wholesale Prices Rebound in May
- Prices increase by average 6.5%
Used Vehicle Price Index Recovers
- UVPI reaches 113.2
Wholesale Sales are Improving
- Volume down 26.9% through May
J.D. Power Valuation Services is now offering the full Guidelines Plus report to subscribers. The full report includes the Used Vehicle Price Index, year-to-date segment price performance, historic wholesale price performance, retention and segment volume and used supply forecast.
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.