Report: Used vehicle market off to a healthy start in 2020
MCLEAN, Va.–(BUSINESS WIRE)–In the February 2020 Used Car and Light Truck Guidelines Industry Update, analysts from J.D. Power Valuation Services reported used prices were relatively steady from week to week in January.
“Overall, the used market remains healthy,” said David Paris, executive analyst at J.D. Power Valuation Services. “After increasing by 1% in 2019, used prices are expected to grow again in 2020. Ultimately, continuing general affordability concerns and dealer competition will help keep used demand high and used prices strong.”
Major findings in the free monthly report note:
- Wholesale Prices Remain Strong in January
- Prices down by a slight 0.6%
- Used Vehicle Price Index Relatively Flat
- UVPI reaches 120.6
- Wholesale Volume Declines
- Volume pulls back 9.9% vs. January ‘19
The Used Car and Light Truck Guidelines Plus Industry Update offers additional insight, data and forecasts monthly including year-to-date segment price performance, historic wholesale price performance, wholesale price retention, wholesale segment volume and used supply forecast along with the standard monthly used vehicle price index and month-over-month segment price performance.
About J.D. Power
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.
About J.D. Power and Advertising/Promotional Rules www.jdpower.com/business/about-us/press-release-info