Although wholesale volume in the used-vehicle market was on average 5.2 percent greater in October 2019 than during the same period in 2018, it is notable that wholesale prices are down by an average of 4.2 percent and the used-vehicle price index is 119.1 compared to 121.3 in October 2018, according to J.D. Power Valuation Services’ November 2019 Used Car and Light Truck Guidelines Industry Update.
“At an industry level, used-vehicle prices are expected to finish out 2019 slightly up relative to 2018 — prices peaked in August and we expect they’ll continue to decline for the remaining months,” J.D. Power Valuation Services Executive Analyst David Paris said in a press release. “Incentives, used-vehicle supply and credit conditions are expected to apply downward pressure on used-vehicle prices, but the impact of other factors like gas and home prices and labor conditions may support used-vehicle prices in the near term.”
Apart from J.D. Power's free report, the company also released its J.D. Power Guidelines Plus, which offers data on Year-to-Date Segment Price Performance, Historic Wholesale Price Performance, Wholesale Price Retention, Wholesale Segment Volume, and Used Supply Forecast on top of the Used Vehicle Price Index and Month-Over-Month Segment Price Performance available on its free report. The monthly Guidelines Plus report is offered for an annual $299 subscription.