Key Highlights August Job Growth In August, job growth reaccelerated modestly but fell short of expectations, reflecting a mixed performance across various sectors. Revisions and Trends Recent revisions to job numbers and broader trends highlight a more nuanced picture of the labor market’s recovery. Unemployment and Participation Rates The unemployment and labor force participation rates … Continued
Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) were higher in August compared to July. The Manheim Used Vehicle Value Index (MUVVI) rose to 203.9, a decline of 3.9% from a year ago. The seasonal adjustment to the index mitigated the impact on the month, resulting in values that rose 1.2% month … Continued
ATLANTA, Sept. 6, 2024 – The Q3 2024 Cox Automotive Dealer Sentiment Index (CADSI) shows automobile dealers in the U.S. continue to view the market as weak. The overall Q3 market sentiment index dropped to a score of 40, down from 42 in Q2 and 45 from a year ago, signaling a weakened market sentiment. … Continued
Cox Automotive’s Auto Market Report video delivers a comprehensive analysis of the current automotive market. Chief Economist Jonathan Smoke leads our effort to translate data and trends into actionable insights. This video covers a wide range of topics, including consumer spending patterns, consumer sentiment, retail vehicle sales, financing rates, supply dynamics, pricing trends and leading … Continued
Highlights: Gross Domestic Product (GDP) and Consumer Spending The GDP growth in the second quarter was revised up to 3.0% annualized from the initially estimated 2.8%. Personal Consumption The Personal Consumption Expenditure Index (PCE), the key gauge of inflation that the Fed follows, increased 0.2% in July, as expected, after increasing just 0.1% in June. … Continued
Updated, Sept. 6, 2024 – New-vehicle sales volumes increased month over month and year over year in August, as forecast by Cox Automotive. Year-over-year sales volumes last month are now estimated at 1.42 million, slightly lower than our team’s 1.44 million forecast. Indications are that fleet sales were notably lower year over year – down by … Continued
ATLANTA, Aug. 26, 2024 – No road trip is complete without a furry companion in tow, but just like people, some dogs are anxious during long car rides. According to Dr. Veronica Higgs, Veterinary Services Manager with Chewy, “Car anxiety can be portrayed differently depending on the dog, including refusal to get into the car, … Continued
Highlights: Fed’s Rate Cut Anticipation Last week was a big week for gathering further insights into the Fed’s likely course of action in its next decision on monetary policy on Sept. 18. The notes from the July meeting were released, which indicated that the committee had already been leaning towards easing at the next meeting, … Continued
Welcome to the monthly Manheim Market Insights update. Jeremy Robb, senior director of Economic and Industry Insights at Cox Automotive, offers a monthly check-in on what we are seeing in the used wholesale and retail markets, all through the wide lens of the data available from Cox Automotive. This month’s video highlights the mid-month Manheim Used Vehicle … Continued
Cox Automotive’s Auto Market Report video delivers a comprehensive analysis of the current automotive market. Chief Economist Jonathan Smoke leads our effort to translate data and trends into actionable insights. This video covers a wide range of topics, including consumer spending patterns, consumer sentiment, retail vehicle sales, financing rates, supply dynamics, pricing trends and leading … Continued