MCLEAN, Va.--(BUSINESS WIRE)--In the May 2020 Used Car and Light Truck Guidelines Plus Industry Update, analysts from J.D. Power Valuation Services reported that wholesale used vehicle activity continues to be severely disrupted by stay-at-home orders, however, as these orders are lifted, the wholesale market shows signs of improving. On an index basis, J.D. Power’s Used Vehicle Price Index declined by 13.7% in April vs. March and prices ended the period 13.5% below April 2019’s level.
“Despite depressed month-over-month April figures, we have observed several weeks of measurable improvement in both wholesale sales and prices, these positive results signify the used market is now in recovery,” said David Paris, executive analyst at J.D. Power Valuation Services. “It should be noted, however, that the market will continue to experience volatility as it reacts to the evolving virus situation.”
Major findings in the free monthly report note:
Wholesale Prices Decline Dramatically in April
- Prices down by an average 14.3%
Used Vehicle Price Index Down
- UVPI reaches 104.1
Wholesale Volume Declines
- Volume down 25.2% through April
J.D. Power Valuation Services is offering the Guidelines Plus free of charge for May 2020. Follow the link below for access.
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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