May wholesale volume dips 3%
Compared to the previous four-week period, J.D. Power Valuation Services determined auction sales volume for used vehicles up to 8 years old dropped by 3 percent in May, settling at 366,212 units.
According to the June edition of Used Car and Light Truck Guidelines Industry Update, J.D. Power Valuation Services recapped that the volume figure for the same month last year came in at 360,394 units.
Analysts determined that late-model vehicle volume units up to 3 years old ended up flat in May versus the previous month as they put the figure at 210,426 units. Through the first five months of the year, late-model vehicle volume sits at 1,235,897 units. The report puts the increase for this metric at 7 percent, as the year-to-date sum a year ago was 1,158,234.
At the segment level, analysts from J.D. Power Valuation Services formerly NADA Used Car Guide noted that late-model compact car volume rose 6 percent month-over-month in May while large pickup and midsize car volume grew by 2 percent and 1 percent, respectively.
Subcompact car volume softened by 3 percent, according to the report, which also mentioned midsize pickup and midsize van volume dropped by 4 percent and 10 percent, respectively.
Source: Auto Remarketing