Yes, you’re correct. There are more vehicles flowing down the lanes nowadays.
J.D. Power Valuation Services reported in the latest edition of Guidelines that auction volume in February for units up to five years in age increased by 7.3 percent year-over-year.
As a result, analysts determined year-to-date wholesale volume is now 9.1 percent above the same point in 2018.
“So far this year the largest volume increases have been observed among SUV segments. This is a trend that will continue as more of these models are sold on the new side of the market,” analysts said in the report.
For example, J.D. Power Valuation Services shared that compact utility volume is up by 39 percent, and midsize utility volume is up 18 percent so far this year as compared to 2018.
In terms of volume share, analysts determined truck share grew to 51.2 percent, while car share softened to 48.8 percent.
“Used supply for units up to five years in age is expected to peak in 2019, before leveling off in 2020 and 2021,” J.D. Power Valuation Services projected. “The anticipated increase will be fueled by increases in off-lease volume.
“Retail, rental and commercial volumes are also expected to increase in 2019, however, not nearly to the same degree as off-lease volume,” analysts added.