Electric vehicle (EV) sales growth in the U.S. continues to slow, according to sales data analyzed by Kelley Blue Book. In the first quarter of 2024, Americans bought 268,909 new electric vehicles, according to Kelley Blue Book counts. EV share of total new-vehicle sales in Q1 was 7.3%, a decrease from Q4 2023. While annual … Continued
Access to auto credit improved in March as credit loosened across all channels and all lender types compared to February, according to the Dealertrack Credit Availability Index. The All-Loans Index increased to 94.0 in March but remained down 1.5% year over year. Credit availability has improved for two consecutive months and rose 1.1% month over … Continued
SANTA CLARA, Calif., April 10, 2024 – In 2023, 1.2 million U.S. vehicle buyers chose to go electric, according to Kelley Blue Book, a Cox Automotive brand. For electric vehicle (EV) owners certain factors, like home-charging ability and easy access to charging facilities are necessary for smooth EV ownership. A new report from Realtor.com® and Cox Automotive has uncovered the top housing markets … Continued
A replay of the Q1 2024 Manheim Used Vehicle Value Index Call held on Friday, April 5, is available below. Cox Automotive Chief Economist Jonathan Smoke, Jeremy Robb, senior director of Economic and Industry Insights, and Scott Vanner, Economic and Industry Insights senior analyst, discussed the latest Manheim Used Vehicle Value Index and the major … Continued
Job growth in March accelerated and was stronger than expected. The three-month average for job creation is at the highest level in 11 months, while the unemployment rate declined. Wage growth accelerated modestly in March. The labor market remains strong. New-vehicle sales slowed in March despite growth in discounting and incentives. Used-vehicle sales improved in … Continued
ATLANTA (April 5, 2024) – Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) were down in March compared to February. The Manheim Used Vehicle Value Index (MUVVI) fell to 203.1, a decline of 14.7% from a year ago. The decline in the index was driven by the seasonal adjustment, resulting in a … Continued
Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) were down in March compared to February. The Manheim Used Vehicle Value Index (MUVVI) fell to 203.1, a decline of 14.7% from a year ago. The decline in the index was driven by the seasonal adjustment, resulting in a 0.4% month-over-month decrease. The non-adjusted … Continued
The video below is part of a biweekly Auto Market Report series focusing on data and insights that provide a holistic view of the auto industry. Chief Economist Jonathan Smoke leads our effort to translate data and trends into actionable insights. Download this week’s presentation
One of my favorite pop culture movie lines is Tom Cruise screaming, “Show Me the Money,” from the 1996 hit film Jerry Maguire. In today’s car business, no manufacturer does a better job of showing their dealers the money than Toyota/Lexus. Not only has Toyota become the #1 volume brand – and is expected to … Continued
The fourth-quarter real GDP was revised upwards to a 3.4% annualized gain, an increase from the 3.2% second estimate. Personal consumption was revised up to 3.3% from 3.0%. In February, income growth decelerated to a 0.3% gain, a decrease from 1.0% in January, which was driven by large increases in Social Security and Medicare payments. … Continued