Used Vehicle Prices Dropped in October as New Vehicle Deliveries Declined
Monday, November 27th, 2017
In their November 2017 Used Car and Light Truck Guidelines Industry Update, analysts at J.D. Power Valuation Services note wholesale depreciation declined by an average of 2.2 percent in October. The dip performed better than the 3.2 percent average price decrease recorded over the past five years for the period.
Highlights from the free monthly report also point out:
The J.D. Power Used Vehicle Price Index rose
Index climbed by 1 percent to 111.5
New vehicle deliveries disappointed the automotive industry once again
Sales declined by 1.4 percent and the new vehicle SAAR reached 17.98M
Incentive spending continued its upward trend
Incentives increased for the 31st month in a row
David Paris, executive analyst at J.D. Power Valuation Services said, "In spite of the slight dip, used vehicle prices remained strong during the month due to lingering effects from hurricanes Harvey and Irma."
Paris went on to say, "As a result of the month's performance, our index increases for the third month in a row."