MCLEAN, Va.--(BUSINESS WIRE)--In the April 2020 Used Car and Light Truck Guidelines Plus Industry Update, which is available for free for the month of April and at an annual discounted rate of $99 through May 1, 2020, analysts from J.D. Power Valuation Services reported wholesale volumes ground to a virtual halt in March and are down 12.3% through March year-to-date.
“Our current outlook calls for used prices to fall by 7% through June 2020 before we see any recovering,” said David Paris, executive analyst at J.D. Power Valuation Services. “The outlook is based on macro-economic expectations, specifically that the country will experience significant job losses through the second quarter. Currently, our forecast has prices falling by 1.7% on a full-year basis versus 2019.”
Major findings in the free monthly report note:
- Used vehicle auction activity has continued to slow in April 2020. Through the week ending April 5.
- Wholesale prices increased 1.4% in March versus February 2020
- Auction prices fell a further 2.6% the week ending April 5
- Used vehicle values are expected to trend down through June 2020
The monthly Guidelines Plus report is offered at a discounted rate of $99 for an annual subscription, as we navigate through the current pandemic, through May 1, 2020. 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.
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.
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