McLEAN, Va. -

The auction market hasn’t wasted any time carrying over the auction sales volume momentum from 2016, and late-model vehicles are driving that charge.

According to the latest Guidelines report from J.D. Power Valuation Services, there was a 17-percent gain in auction sales volume of cars up to 8 years old during the first four weeks of the year, as compared to the same time frame in December (which was impacted by the holidays).

What’s more, auction sales volumes (which came in at 350,723 units, to be specific) were up 5 percent year-over-year.  

Late-model volumes were particularly strong in January.

Sales volume of vehicles from 1-3 years old were up 24 percent month-over-month and took a 56-percent share of total sales volume for units up to 8 years in age, the report said.

Driven by lease returns, vehicles from the 2014 model year alone had a 23-percent share.

Within the late-model crowd, the largest auction sales volume growth was in the luxury midsize utility segment, which was up 44 percent. It was followed by the midsize car segment (up 31 percent) and luxury midsize cars (up 30 percent). The only late-model segment to see a drop were large utilities, which were down 4 percent.

Cars had a 54-percent share of late-model volume with trucks at 46 percent. Last year, those numbers were 59 percent and 41 percent, respectively, J.D. Power indicated.

Utility vehicle volume (both mainstream and luxury) climbed 26 percent, which was the primary push behind the overall late-model truck gain. 

On the pricing front, J.D. Power was predicting a month-over-month gain of a little more than 1 percent in February, which would beat the “abnormal” 0.2-percent decline in February 2016.

This month usually shows a price increase. 

You can anticipate a 2-percent sequential price gain in March as prices peak, then move downward in April. 

For the full year, J.D. Power predicts the used-vehicle price decline (4.5 percent to 5 percent) will be moderately steeper than last year, when prices fell 4 percent. 

Used-car prices began the current year by falling 0.4 percent sequentially, which reflects “historical seasonal trends,” the company said.