In the April 2019 Used Car and Light Truck Guidelines Industry Update, analysts at J.D. Power Valuation Services note that after six consecutive months of declines, the used vehicle market bounced back in March. As a result, the J.D. Power Valuation Services’ Seasonally Adjusted Used Vehicle Price Index increased by 1.1 points – relative to February – to 117.5. March’s positive result comes after weaker than usual January and February 2019 performances.
Highlights from the free monthly report point out:
Wholesale Prices Increase in March
Prices up by an average of 2.7%
Used Vehicle Price Index Grows
Index reaches 117.5
New Vehicle Sales Struggle
New sales down 2.2%, SAAR reaches 17.48M
Incentive Spending Declines
Incentive spending per unit fell 5.2% to $3,799
“As far as entire year 2019 desires, the utilized market is required to moderate in 2019,” said David Paris, Executive Analyst at J.D. Power Valuation Services. “Therefore, costs are figure to fall by around 2%. Expanding dimensions of utilized supply alongside progressively unpredictable credit conditions and expanding gas costs, which are relied upon to apply descending weight on the trade-in vehicle advertise.”
J.D. Power Valuation Services (in the past NADA Used Car Guide) is a main supplier of vehicle valuation items and administrations to organizations. The group gathers and examines more than 1 million car and truck discount and retail exchanges every month, and conveys a scope of manuals, closeout information, and investigation and information arrangements.
J.D. Power is a worldwide pioneer in purchaser bits of knowledge, warning administrations and information and examination. These abilities empower J.D. Capacity to enable its customers to drive consumer loyalty, development and productivity. Built up in 1968, J.D. Power has workplaces serving North America, South America, Asia Pacific and Europe.