In the July 2018 Used Car and Light Truck Guidelines Industry Update, analysts at J.D. Power Valuation Services note the used vehicle market turned a positive corner with an increase in the Seasonally Adjusted Used Vehicle Price by 1.2 points—compared with May—to reach 118.2. June's above-average performance brought the index 4.1 points above June 2017.

Highlights from the free monthly report also point out:

• Wholesale Prices Decline in June

• Prices fall by an average of 0.9%

• Used Vehicle Price Index Increases

• Index rises 1.2 points to 118.2

• New Vehicle Sales Increase

• Sales grow 5.4%, new vehicle SAAR reaches 17.38

• Incentive Spending Increased

• Incentives grow for 39^th straight month

"In terms of full-year expectations, with exceptionally strong performances observed over the past few months, our forecast is improvement for the second month in a row," said David Paris, Executive Analyst at J.D. Power Valuation Services. "We expect used prices to increase, especially as negative forecast factors hurting used vehicles such as increase in used supply, worsening credit conditions and increase gasoline prices continue to be incentives."