Analysts from J.D. Power Valuation Services say that U.S. wholesale volumes of used vehicles ground to a virtual halt in March due to Stay-at-Home Orders; 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,” Paris said.
Major findings in the free monthly report:
- 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
Download the free April 2020 Used Car and Light Truck Guidelines Plus Industry Update. 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.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
US Used Vehicle Wholesales Virtually Stopped in March
Analysts from J.D. Power Valuation Services say that U.S. wholesale volumes of used vehicles ground to a virtual halt in March due to Stay-at-Home Orders; 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,” Paris said.
Major findings in the free monthly report:
Download the free April 2020 Used Car and Light Truck Guidelines Plus Industry Update. 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.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn. He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe. Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap. AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks. Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.