Key Highlights New-Vehicle Sales The auto industry is experiencing a notable upswing, with new light-vehicle sales up 10.6% year over year in October. New-Vehicle Prices In October, the average transaction price of new vehicles and the average manufacturer’s suggested retail price (MSRP) both saw slight monthly increases, while manufacturer incentives experienced significant growth both monthly … Continued
The Federal Reserve stuck to the plan of cutting 25 BPs (basis points) to continue the process of moving rates away from a too-restrictive level that has contributed to lackluster retail vehicle demand of late. There is no doubt: High rates – and limited affordability – held back new-vehicle sales in 2024. It was the … Continued
Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) were lower in October compared to September. The Manheim Used Vehicle Value Index (MUVVI) fell to 202.8, a decline of 3.2% from a year ago. The seasonal adjustment to the index reduced the change for the month, as non-seasonally adjusted values declined at a … Continued
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Key Highlights Economic Insights The first estimate of third-quarter real GDP growth showed a deceleration to 2.8% from 3.0% in the second quarter. Personal Income and Spending As expected, personal income growth accelerated to 0.3% from 0.2% in August. Employment Initial October payroll estimates indicate only 12,000 jobs were created, significantly below the expected 100,000. … Continued
It’s no secret that the automotive industry is rapidly changing — especially when it comes to EVs. With that change comes a host of new challenges for dealers and OEMs, from how these vehicles are distributed when new to how they are assessed, serviced and remarketed when used. Solving those challenges is exactly what we’re … Continued
Cox Automotive’s Auto Market Report video delivers a comprehensive analysis of the current automotive market. Chief Economist Jonathan Smoke leads our effort to translate data and trends into actionable insights. This video covers a wide range of topics, including consumer spending patterns, consumer sentiment, retail vehicle sales, financing rates, supply dynamics, pricing trends and leading … Continued
Key Highlights Housing Market Trends The housing market displayed mixed trends in September, with existing and new home sales diverging significantly. Labor Market Dynamics The labor market has been deteriorating this year, with claims increasing and lasting longer. Consumer Sentiment and Inflation Expectations Consumer sentiment showed unexpected resilience in October, buoyed by improving conditions and … Continued
The electric vehicle (EV) market continues to expand in the U.S., as recent Cox Automotive data reveal a year-over-year rise in sales for both new and used EVs. September marked the sixth consecutive month in which new EV sales surpassed 100,000 units. EV share of new vehicle sales achieved a notable 9% last month, the … 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