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
Below is a replay of the Q1 2024 Cox Automotive Industry Insights and Sales Forecast call, which was held on Thursday, March 28. Cox Automotive Chief Economist Jonathan Smoke and the Industry Insights team provided an overview of the U.S. automotive industry through the first quarter, revisited Cox Automotive’s Forecast: 2024, the major themes that are … Continued
Reliable data and smart insights are crucial for navigating the ever-changing market conditions of the dynamic auto industry. Fueled by the largest breadth of first-party data fed by 2.3 billion online interactions a year, the Cox Automotive Economic and Industry Insights team collects, analyzes and shares the best information possible. The 2024 CAMIO The Cox Automotive … Continued
The Q1 2024 Cox Automotive Industry Insights and Sales Forecast call will be hosted today, March 28, at 11 a.m. EDT. Register to receive call information. The presentation is available now. Join Cox Automotive Chief Economist Jonathan Smoke, Senior Economist Charlie Chesbrough, and the Industry Insights team for a 60-minute event that will provide an update on the … Continued
ATLANTA – March 27, 2024 – Cox Automotive is rolling out the used car industry’s only solution that will measure the EV battery health for each specific VIN across Manheim. In addition, the company is expanding LotVision’s capabilities of reporting battery health for each unique vehicle. Both enhancements give wholesale buyers and sellers the information … Continued