Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) increased 1.5% in March from February. The Manheim Used Vehicle Value Index (MUVVI) rose to 238.1, down 2.4% from a year ago. March’s increase was moderated by the seasonal adjustment. The non-adjusted price change in March increased by 3.5% compared to February, moving the … Continued
Sales into large fleets, not including sales into dealer and manufacturer fleets, increased 27.7% year over year in March to 225,200 units, according to an early estimate from Cox Automotive. Combined sales into large rental, commercial, and government fleets have seen eight consecutive months of double-digit, year-over-year increases. Sales into rental fleets were up 46.0% … Continued
Fourth quarter real GDP growth was revised down slightly with less strength in consumer spending, according to the third estimate released by the Bureau of Economic Analysis (BEA) on March 30. Consumer income growth and spending growth both decelerated in February. The personal savings rate increased. Key measures of inflation showed downward progress. Pending home … Continued
CNBC, March 26, 2023 – Over 300 million electric vehicles are expected to be on the world’s roads by 2030, according to the International Energy Agency. By 2050, the National Renewable Energy Laboratory expects the demand for graphite, lithium and cobalt, all critical minerals in EV batteries, to increase by 500%. It estimates that the … 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
A replay of the Q1 2023 Cox Automotive Industry Insights and Sales Forecast Call held on Monday, March 27, is available below. Chief Economist Jonathan Smoke, Senior Economist Charlie Chesbrough and Chris Frey, senior manager of economic and industry insights, presented how the auto industry performed in the first quarter and what’s likely ahead, including our updated … Continued
Updated, April 3, 2023 – As the Cox Automotive Industry Insights team expected, new-vehicle sales in Q1 delivered solid year-over-year gains. Higher inventory levels and improved fleet sales combined to lift overall industry results. Honda and Nissan delivered stronger-than-expected vehicle sales in Q1; both GM and Ford had good results fueled by strong truck and … Continued
The Q1 2023 Cox Automotive Industry Insights and Sales Forecast Call was held today, March 27, at 11 a.m. EDT. The presentation is available for download. An event replay was published on Tuesday, March 28. Chief Economist Jonathan Smoke, Senior Economist Charlie Chesbrough and Chris Frey, senior manager of economic and insight insights, highlighted how the … Continued
The Federal Reserve increased the Fed Funds Rate by a quarter point despite the still-evolving banking crisis. Even before the Fed’s move, auto credit access tightened in March due to the banking situation. Interest rates are going higher because of widening yield spreads while terms are shortening. Both make payments move higher. Momentum for vehicle … Continued
While the main possibilities for action at this meeting boiled down to no raise and raising a quarter point, the Fed opted for the more aggressive move even though tightening was already occurring. Compared to where the thinking was two weeks ago, the decision seems moderate, but much has changed over the last two weeks. … Continued
