Along with looking ahead to how prices might move in August, analysts at J.D. Power Valuation Services determined that July’s wholesale depreciation matched historical trends.
While it appears dealers are having trouble fulfilling one specific segment on their inventory shopping lists, Black Book’s latest price update indicated dealers aren’t paying quite as much when they do find the units they want.
J.D. Power said Monday morning it has rolled out a Used Vehicle Price Index Service that provides a monthly index monitoring current wholesale used-car prices and forecasting future movement.
The analysis is done on both an industry and segment level.
Along with an update on the specialty markets, Black Book also shared the significant difference in how much car prices depreciated last week versus trucks.
The record-setting streak for the Manheim Used Vehicle Value Index reached three months in a row when Cox Automotive shared the new reading on Monday.
As dealers looked to accelerate sales to close July, Black Book noticed vehicle depreciation moved in a similar way to finish the month.
Black Book editors could have broken out a thesaurus on Tuesday when releasing their Used Vehicle Retention Index for July. Upon looking for the right adjective to summarize the latest reading, they could have picked among steady, stable, firm, fixed, unchanged or unwavering.
As the temperatures spike outside, Black Book isn’t quite seeing wholesale prices behave in the opposite extreme, which is sometimes the norm as we enter the remaining days of July.
Editors turned a phrase for this week’s Black Book Market Insights report, highlighting that “a mixed bag of vehicle valuation strength” summarized the activity in the lanes.
J.D. Power Valuation Services might have sounded like the firm formerly known as NADA Used Car Guide was repeating itself when analysts shared both their assessment of used-vehicle price movement in June and their projection for July.