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Wholesale Used-Vehicle Prices Declined in April

Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) were down in April compared to March. The Manheim Used Vehicle Value Index (MUVVI) fell to 198.4, a decline of 14.0% from a year ago. The seasonal adjustment to the index magnified the results for the month, resulting in a 2.3% month-over-month decrease. The … Continued

Auto Market Weekly Summary

Highlights Job Growth and Unemployment Dynamics April’s job growth has taken a significant dip, falling below expectations and revising down the tally of previous months, contributing to a broader discussion on labor market trends and economic indicators as viewed through the lens of vehicle sales, Federal Reserve policies, and average transaction prices in the auto … Continued

Deflation and Fed’s Lack of Urgency Are Putting Durable Goods at Risk

The Fed left interest rates and overall monetary policy unchanged today. We have now had six straight meetings with no change in rate policy. The Fed remains focused on a 2% target. Still, they appear to recognize that waiting could lead to even more economic slowing, which is ultimately the goal, with better balance of … Continued

Cox Automotive Auto Market Report: April 30th

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

Auto Market Weekly Summary

Highlights First Estimate of Q1 GDP Growth Slowed More Than Expected The first estimate of Q1 real GDP performance showed a bigger deceleration in growth than expected, falling to an annualized rate of 1.6% from 3.4% in the fourth quarter. Personal consumption decelerated to growth of 2.5%, a decline from 3.3% in Q4. Spending on … Continued

Auto Market Weekly Summary

Highlights The initial retail sales report for March showed a stronger-than-expected acceleration in consumer spending. The 0.7% increase was well above the expected 0.4% growth, and February’s sales increase was revised higher. Retail sales were up 4.0% year over year on a nominal basis in the initial March reading, and was up from an upwardly … Continued

Tax Refund Season Draws To A Close With Retail Used-Vehicle Sales Up More Than 5% Year Over Year

Used-vehicle inventory levels at the start of April were lower than in March, according to the Cox Automotive analysis of vAuto Live Market data, as healthy sales fueled by tax refunds drew supply down to the lowest level since the spring of 2023.   2.22M Total UnsoldUsed Vehiclesas of April 4, 2024 44 Days’ Supply … Continued

Manheim Market Insights Series: Episode 20

Welcome to the monthly Manheim Market Insights update. Jeremy Robb, senior director of Economic and Industry Insights at Cox Automotive, offers a monthly check-in on what we are seeing in the used wholesale and retail markets, all through the wide lens of the data available from Cox Automotive. This month’s video highlights the mid-month Manheim Used Vehicle … Continued

New-Vehicle Inventory Increases While Steady Sales Pull Down Days’ Supply

April opened with 72 days of new-vehicle supply across the industry, down seven days from the start of March, as higher volumes in recent weeks helped to keep inventory in check. According to Cox Automotive’s analysis of vAuto Live Market View, the total U.S. supply of available unsold new vehicles opened April at 2.77 million … Continued

Wholesale Used-Vehicle Prices Decrease in First Half of April

Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased by 1.9% from March during the first 15 days of April. The mid-month Manheim Used Vehicle Value Index dropped to 199.2, which was 13.7% lower than the full month of April 2023. The seasonal adjustment amplified the results. The non-adjusted price change in … Continued