MCLEAN, Va., July 24, 2018 /PRNewswire/ -- In the July 2018 Used Car and Light Truck Guidelines Industry Update, analysts at J.D. Power Valuation Services note the used vehicle market turned a positive corner with an increase in the Seasonally Adjusted Used Vehicle Price by 1.2 points—compared with May—to reach 118.2. June's above-average performance brought the index 4.1 points above June 2017.
Highlights from the free monthly report also point out:
"In terms of full-year expectations, with exceptionally strong performances observed over the past few months, our forecast is improvement for the second month in a row," said David Paris, Executive Analyst at J.D. Power Valuation Services. "We expect used prices to increase, especially as negative forecast factors hurting used vehicles such as increase in used supply, worsening credit conditions and increase gasoline prices continue to be incentives."
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. Poweris 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 is headquartered in Costa Mesa, Calif., and has offices serving North/South America, Asia Pacific and Europe. J.D. Power is a portfolio company of XIO Group, a global alternative investments and private equity firm headquartered in London, and is led by its four founders: Athene Li, Joseph Pacini, Murphy Qiao and Carsten Geyer.
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SOURCE J.D. Power