Used Vehicle Price Index Slips for Sixth Consecutive Month, J.D. Power Finds
New Vehicle Sales Continue to Decline
MCLEAN, Va., March 22, 2019 /PRNewswire/ -- In the March 2019 Used Car and Light Truck Guidelines Industry Update, analysts at J.D. Power Valuation Services note the used vehicle market continued its sluggish start to the new year, as a result the J.D. Power Valuation Services' Seasonally Adjusted Used Vehicle Price Index declined 1.3 points – relative to January – to 116.1. February's decline marked the sixth consecutive month of declines in the used market and is a trend we should expect to see more of throughout the course of 2019 as used vehicle prices are expected to decline relative to 2018.
Highlights from the free monthly report point out:
- Wholesale Prices Decline in February
- Prices down by an average of 1.5%
- Used Vehicle Price Index Down
- Index falls for 6th consecutive month to 116.1
- New Vehicle Sales Drop
- Sales fall 2.4%, SAAR reaches 16.5 M units
- Incentive Spending Declines
- Incentives decrease by 2.7% to $3,873 per unit
"With January and February's weaker than expected performances, 2019's outlook has worsened," said David Paris, Executive Analyst at J.D. Power Valuation Services. "As a result, prices are forecast to fall by around 3%. Increasing levels of used supply along with more volatile credit conditions and increasing gasoline prices which are expected to apply downward pressure on the used side of the market."
Download the free March 2019 Used Car and Light Truck Guidelines Industry Update.
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.
Media Relations Contacts
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SOURCE J.D. Power
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