Cox Automotive Launches ‘Project Pink’ – A Campaign Celebrating Technician Diversity and Breast Cancer Awareness

News Press Releases 4 min read

ATLANTA and INDIANAPOLIS, Ind., Jan. 11, 2024 – Cox Automotive proudly announces ‘Project Pink,’ an innovative initiative to celebrate diversity among its Fleet Services and Manheim technicians and support breast cancer awareness. Project Pink is a groundbreaking campaign that features high-visibility pink uniforms for female technicians at Cox Automotive. Icie Hinton, a female trailer shop … Continued

Automotive Market Shifts to Favor Buyers as U.S. New-Vehicle Prices Down Record 2.4% Year Over Year in December 2023

4 min read

ATLANTA, Jan. 10, 2024 – The U.S. new-vehicle average transaction price in December 2023 was $48,759, an increase of 1.3% month over month but down 2.4% year over year, according to data released today from Kelley Blue Book, a Cox Automotive company. December marks the fourth consecutive month that new-vehicle transaction prices were lower year over … Continued

A Record 1.2 Million EVs Were Sold in the U.S. in 2023, According to Estimates from Kelley Blue Book

3 min read

A record 1.2 million U.S. vehicle buyers chose to go electric last year, according to estimates from Kelley Blue Book, a Cox Automotive company. More specifically, 1,189,051 new electric vehicles (EVs) were put into service as the slow shift to an electrified future continued unabated. In 2023, the EV share of the total U.S. vehicle … Continued

2024 Cox Automotive Industry Insights Webcast Replay Available

1 min read

A replay of the 2024 Cox Automotive Industry Insights webcast held on Monday, January 8, is available below. Jonathan Smoke and the Industry Insights team provided a comprehensive update on the automotive industry for the new year. This session covered the new, used, and wholesale markets for 2023, along with insights and data from Cox Automotive … Continued

Manheim Index: Used-Vehicle Values Fall Further in 2023, with Values Now Down 21% from All-Time High Reached in 2021

News Press Releases 7 min read

ATLANTA (Jan. 8, 2024) – Following a downward trend that began in the second half of the year, 2023 ended with the Manheim Used Vehicle Value Index down 0.5% in December from November. The Manheim Used Vehicle Value Index (MUVVI) dropped to 204.0, down 7.0% from the previous year, a larger decline than originally expected. … Continued

2024 Cox Automotive Industry Insights Presentation Available

1 min read

The 2024 Cox Automotive Industry Insights webcast will be hosted today, Jan. 8, at 11 a.m. EST. Join Cox Automotive Chief Economist Jonathan Smoke and the Industry Insights team for a 60-minute event that will provide a comprehensive update on the automotive industry for the new year. This session will cover the new, used, and wholesale markets for 2023, … Continued

Wholesale Used-Vehicle Prices Decrease in December, End Year Down 7.0%

6 min read

Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) decreased 0.5% in December from November. The Manheim Used Vehicle Value Index (MUVVI) dropped to 204.0, down 7.0% from a year ago. Compared to December 2021, used-vehicle values are down nearly 21%. “December’s decline brought a volatile year to a close,” said Jeremy Robb, … Continued

Q4 2023 Manheim Used Vehicle Value Index Review Presentation Available

1 min read

Due to audience overlap, the topline highlights from the Manheim Used Vehicle Value Index and the 2024 forecast are being included in the Cox Automotive Industry Insights 2024 Webcast taking place today, Jan. 8, 11 a.m. EST. In place of a live Manheim Used Vehicle Value Index call, the Industry Insights team is providing the deep dive … Continued

Auto Market Weekly Summary

4 min read

Job growth in December was stronger than expected, but prior months were revised down. The three-month average shows slowing growth, and that slowing should continue in 2024. The unemployment rate was steady as labor force participation fell and wage inflation accelerated slightly. The pace of new-vehicle sales increased in December as sales into rental fleets … Continued

Strong December Fleet Sales Reflect Huge Gain in Rental Sector

2 min read

In December, sales into large rental and government fleets increased compared to the previous year, with rental having a particularly strong month. Commercial sales decreased year over year but were up month over month. An analysis of Bobit’s data by Cox Automotive revealed that there was a 21.7% increase in sales to large fleets (excluding … Continued