Key Highlights Retail Sales Performance Retail sales registered weak growth in February, with seven of 12 categories down, but sales were up year over year on a nominal and inflation-adjusted basis. The initial retail sales report for February showed a 0.2% growth, which was weaker than expected, following a 1.2% decline in January. Residential Construction … Continued
The Q1 Cox Automotive Industry Insights and Sales Forecast Call will be hosted on Wednesday, March 26, at 11 a.m. EDT, shortly before the auto industry closes the book on the first quarter. In the upcoming webinar, Cox Automotive Chief Economist Jonathan Smoke, along with the Economic and Industry Insights team, will deliver an update … Continued
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
Takeaway: According to Xtime metrics by Cox Automotive, service activity at franchised dealerships in the U.S. decreased in 2024, while revenue from repair orders increased. The average Repair Order Volume Index was lower by 1.7% year over year, while the Repair Order Revenue Index average increased by 5.2% compared to the average in 2023. Repair … Continued
Key takeaways: The Manheim Used Vehicle Value Index (MUVVI) concluded 2024 showing a year-over-year increase in wholesale values of less than 1%, compared to the 7.0% decrease observed in the previous year. 2024 ended at a positive 0.4%, close to our long-term average since 2019. What’s next: Cox Automotive is forecasting a normal year for … Continued
Takeaway: Certified pre-owned (CPO) underperformed the overall used-vehicle market in 2024. Full-year CPO sales in 2024 were 2.5 million units, down 3.6% compared to 2023. The used-vehicle market is in a multi-year recovery from low new-vehicle sales following the pandemic. CPO sales are being held back by limited supply of nearly new units and affordability issues. … Continued
Takeaway: Used retail listing prices in 2024 showed minimal variation throughout the year, with listing prices consistently lower each month compared to the previous year and ended 2024 lower by 4.5%. The average listing price of a retail used vehicle in the market was approximately $25,467 throughout 2024, which is 32% higher than in 2019 … Continued
Takeaway: Used-vehicle inventory, including days’ supply, was constrained throughout 2024. The supply of used units fluctuated during the year, reaching a low in September before rising in the last three months, finishing the year 3% lower than its start and 7% below 2023 levels. Days’ supply increased to nearly 50 days in December, the third-highest … Continued
Takeaway: In 2024, the used-vehicle market was strong, with total sales reaching approximately 37.4 million units, including 19.9 million retail sales. Retail inventory levels fluctuated, with a notable increase in January but decreased as the spring selling season drew down available supply to the lowest level in a year. Overall, the market was characterized by … Continued
Takeaway: In 2024, the electric vehicle (EV) market continued to grow, with total EV sales in the U.S. reaching a record 1.3 million units, a 7.3% increase from 2023. This growth was driven by strong incentives from automakers, excellent lease deals, and federal and state incentive programs. The fourth quarter of 2024 saw a particularly … Continued