Access to auto credit declined slightly in May as credit tightened across most channels and all lender types, according to the Dealertrack Credit Availability Index. The All-Loans Index was 94.8 in May, down only 0.1 from the upwardly revised April reading but up 0.9% year over year. The subprime share and negative equity share both … Continued
Highlights Job Growth Job growth in May reaccelerated, exceeding expectations. Here’s a quick look at the highlights: Unemployment Unemployment increased in the latest data, breaking a 29-month streak of being under 4.0%. Vehicle Sales Vehicle sales performed well in May. Here are the key figures: Used-Vehicle Market The used-vehicle market demonstrated strong performance in May … Continued
Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) were down in May compared to April. The Manheim Used Vehicle Value Index (MUVVI) fell to 197.3, a decline of 12.1% from a year ago. The seasonal adjustment to the index reduced the impact on the month, resulting in values that declined 0.6% month … Continued
CBT News, June 4, 2024 – EV sales in the U.S. market surpassed 1 million units for the first time in 2023, but not everyone is on board just yet. On this episode of CBT Now, host Jim Fitzpatrick discusses the findings of Cox Automotive’s new 2024 Path to EV Adoption Study with Vanessa Ton, Senior … Continued
Highlights GDP, Personal Income and Spending The fourth-quarter real GDP growth was revised down to a 1.3% annualized increase from an initial estimate of 1.6%. This downward revision also impacted personal consumption, which was adjusted to a 2.0% increase from 2.5%. Real GDP growth year over year was revised to 2.9% from 3.0%. Personal income … 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 report 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 Housing Market Insights Existing Home Sales New Home Sales Overall Home Sales Economic Indicators Durable Goods Orders Jobless Claims Consumer Sentiment University of Michigan Index Morning Consult Index Gas Prices Conclusion This week’s economic data shows a mixed picture. The housing market continues to face challenges with declining sales and increasing inventory, influenced by … Continued
Updated, June 4, 2024 – The new-vehicle sales pace in May surprised to the upside, as higher inventory levels and more aggressive deal-making helped push the May sales pace slightly higher than the Cox Automotive forecast of 15.8 million. Our team was expecting a positive result in May, a gain compared to April and higher … 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
Highlights Inflation Trends Headline inflation growth showed signs of slowing down in April, according to the Consumer Price Index (CPI), providing relief to the financial markets: Retail Sales Performance Retail sales for April were flat, falling short of expectations: Residential Construction Insights Residential construction activity in April was mixed and weaker than expected: