ATLANTA (Jan. 9, 2023) – Following record increases in 2021, the Manheim Used Vehicle Value Index (MUVVI) ended 2022 at 219.3, a slight increase from November due to the seasonal adjustment, but down 14.9% year over year. This was the largest decline within one year in the series’ history. On the non-adjusted side, the price … Continued
Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) increased 0.8% in December from November. The Manheim Used Vehicle Value Index (MUVVI) rose to 219.3, down 14.9% from a year ago. This was the largest annualized decline in the series’ history. December’s increase was driven by the seasonal adjustment. The non-adjusted price change … Continued
Job growth in December slowed, the unemployment rate fell, and wage growth decelerated. Continuing jobless claims increased from historical lows, but there is little evidence of major deterioration in the jobless claims data. Moreover, relative to the job base, jobless claims remain at historically low levels. The seasonally adjusted annual rate (SAAR) of sales for … Continued
Sales into large fleets, not including sales into dealer and manufacturer fleets, increased 3.0% month over month in December to 165,809 units, according to an early estimate from Cox Automotive. Combined sales into large rental, commercial, and government fleets were up 47% year over year in December, the sixth consecutive month of double-digit, year-over-year increases. … 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.
Major economic indicators were negative to close out 2022. Consumer spending growth slowed substantially in November, with spending on motor vehicles and parts down in November after an October increase. Personal income growth also slowed. The massive rise in mortgage rates has reduced demand, particularly causing a decline in the construction of single-family homes. On … Continued
Updated, Jan. 4, 2023 – While sales in December likely came in slightly higher than the initial Cox Automotive forecast, and above year-ago levels, the bottom-line result will hardly be cheered as a success. In fact, December sales continue to demonstrate a softening of retail demand, although demand has not collapsed. Sales in December, and … Continued
In today’s market, the deterioration of consumer credit, and auto loan performance, in particular, is a worrying sign for industry watchers. In the context of high inflation and with the Fed intent on slowing the economy and weakening the labor market, there are indeed clear signs of stress in the system. Continued jobless claims are … Continued
Welcome to the monthly Manheim Market Insights update. This month, Mark Schirmer. director of Corporate Communications at Cox Automotive, is filling in for Kevin Chartier, vice president of Manheim Market Insights, who is retiring from Manheim. In January, Jeremy Robb, senior director of Business Intelligence, will be picking up the narrative for this monthly check-in … 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.
