Used Vehicle Price Index Rises

By Staff Writer June 22, 2020

Wholesale used vehicle activity steadily improved over the course of May as the market moved toward recovery of both sales volumes and prices, according to the June 2020 Used Car and Light Truck Guidelines Plus Update from J.D. Power Valuation Services.

On an index basis, J.D. Power’s Used Vehicle Price Index increased by 8.3 percent in May vs. April and prices ended the period 6.8 percent 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 percent 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 percent to 4 percent vs. 2019.”

Major findings in the report were that wholesale prices rebounded in May, with prices increasing by average 6.5 percent.

Rate this item
(1 Vote)
Last modified on Tuesday, 23 June 2020 13:51

Trending News

FCA: Sales Rebound in May, June

FCA: Sales Rebound in May, June

Jul 02, 2020 Rate: 5.00

New-Car Prices Jump

New-Car Prices Jump

Jul 02, 2020 Rate: 5.00

Hyundai Retail Tops Fleet

Hyundai Retail Tops Fleet

Jul 02, 2020 Rate: 0.00