Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 0.3% from September in the first 15 days of October. The mid-month Manheim Used Vehicle Value Index increased to 203.5, down 2.8% from the full month of October 2023. The seasonal adjustment reduced the results for the month. The non-adjusted price change in … Continued
New-vehicle affordability was unchanged in September, as various factors offset any potential benefits for consumers, according to the Cox Automotive/Moody’s Analytics Vehicle Affordability Index. “Even with a larger-than-expected rate cut by the Fed in September, there hasn’t been a material improvement in auto loan rates or the overall affordability of new vehicles,” said Cox Automotive … 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
Access to auto credit increased in September as credit loosened across most channels and all lender types, marking the end of a five-month decline, according to the Dealertrack Credit Availability Index. The All-Loans Index was 92.8 in September, up 0.4% from the August reading but down 2.1% year over year. Dealertrack Credit Availability Index1 Auto … Continued
Key Highlights Inflation Headline inflation, according to the consumer price index (CPI), increased 0.2% in September, which was more than expected. New-Vehicle Prices and Incentives New-vehicle prices and incentives showed mixed trends. Used-Vehicle and Wholesale Prices Used retail sales estimates based on vAuto data indicate that volumes were down month over month but up year … Continued
According to new estimates from Kelley Blue Book, electric vehicle (EV) sales in the U.S. grew by 11% year over year in the third quarter and reached record highs for both volume and market share. According to the latest counts, an estimated 346,3091 EVs were sold in Q3 2024, a 5% increase from Q2. The … Continued
ATLANTA, Oct. 9, 2024 – According to data released today by Kelley Blue Book, the average transaction price (ATP) for a new vehicle in the U.S. was $48,397 in September. The September ATP increased modestly from August but was lower year over year by 0.4%, as downward price pressure continues to hold new-vehicle ATPs in check. … Continued
A replay of the Q3 2024 Manheim Used Vehicle Value Index Call held on Monday, Oct. 7, is available below. Cox Automotive Chief Economist Jonathan Smoke, Senior Director Jeremy Robb, and Scott Vanner, a senior analyst on the Economic and Industry Insights team, presented the latest Manheim Used Vehicle Value Index and the major economic and industry trends … Continued
ATLANTA (Oct. 7, 2024) – Data released today by Cox Automotive showed that, after two months of increases, wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) reversed course and were lower in September by 0.5% compared to August. The Manheim Used Vehicle Value Index (MUVVI) fell to 203.0, a decline of 5.3% … Continued
Key Highlights Job Growth Surges in September September registered a stronger-than-expected uptick in job growth, with a total of 254,000 jobs created, outpacing the anticipated 150,000. Unemployment Rate and Labor Market Evolution While the headline unemployment rate saw a slight decline, overall market indicators and the deterioration in the labor market suggest a potential recession … Continued
