Used vehicle prices rose in March for the first time in six months, according to analyst at J.D. Power Valuation Services. In its April Used Car and Light Truck Guidelines Industry Update, analysts said their seasonally adjusted Used Vehicle Price Index rose by 1.1 points from February to 117.5. The positive reading comes after weaker-than-usual numbers for January and February. “In terms of full-year 2019 expectations, the used market is expected to slow in 2019,” said David Paris, Executive Analyst at J.D. Power Valuation Services, in a statement. “As a result, prices are forecast to fall by around 2%. Increasing levels of used supply along with more volatile credit conditions and increasing gas prices, which are expected to apply downward pressure on the used car market.” New vehicle sales fell 2.2% to 17.48 million in the month. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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