August was a strong month for the used vehicle market in the U.S., which saw a Seasonally Adjusted Used Vehicle Price Index increase of 2.2 points from July 2018, and up 6.3 points from a year earlier, according to the analysts at J.D. Power Valuation Services.
“The used vehicle market started showing its strength in the middle half of 2017, and there are no signs of it letting up,” said David Paris, Executive Analyst at J.D. Power Valuation Services. “Most of the market’s life in prices has been driven primarily by mainstream car growth, however, mainstream utility segments continue to show firmness as well.”
The Used Vehicle Price Index in August was 121.9. Wholesale prices jumped an average of 0.7 per cent during that period. New vehicle sales however remained flat, with the Seasonally Adjusted Annual Rate (SAAR) slipping to 16.6 million. As for incentive spending, it continues to grow, and has reached the 41st straight month of non-stop growth.
In terms of car segments, the only two that do not appear to experience the same positive trend as mass market vehicles are Luxury Cars and SUVs, according to J.D. Power.
Read the full report here.
