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Manheim Index: Wholesale Used Vehicle Values Lower than Expected in March, as Prices Cool in Final Week of Q1

Retrieved on:

Friday, April 5, 2024

Smoke, Health, SUV, MMR, EVS, SAAR, Transport, Cox Enterprises, Index, Mileage, Government, Propane

Spring bounce in vehicle sales ended early this year, with both wholesale and retail sales slowing in the final week of Q1.

Key Points:

Spring bounce in vehicle sales ended early this year, with both wholesale and retail sales slowing in the final week of Q1.
ATLANTA, April 5, 2024 /PRNewswire/ -- Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) were down in March compared to February.
The Manheim Used Vehicle Value Index (MUVVI) fell to 203.1, a decline of 14.7% from a year ago.
In March, Manheim Market Report (MMR) values saw weekly increases slightly below long-term averages for the last several weeks.

ICE Mortgage Monitor: Trading Up to a 25% More Expensive Home Would More Than Double the Average Mortgage Holder’s Payment

Retrieved on:

Monday, April 1, 2024

Construction & Property, Data Analytics, Finance, Professional Services, Consumer, Fintech, Other Construction & Property, Residential Building & Real Estate, Research, Intercontinental Exchange, Intercontinental, SAAR, Sale, ICE, City, Housing, P&I, Real estate

There are many headwinds facing the would-be seller in today’s market, making their existing mortgage payment particularly attractive in comparison.

Key Points:

There are many headwinds facing the would-be seller in today’s market, making their existing mortgage payment particularly attractive in comparison.
“That average homeowner’s mortgage payment would more than double, to gain just 25% in property value – hardly an entertaining proposition.
“After closing out 2023 at an 11-year low, home sales have begun to improve over the last two months,” Walden added.
Much more information on these and other topics can be found in this month’s Mortgage Monitor.

J.D. Power-GlobalData U.S. Automotive Forecast for March 2024

Retrieved on:

Thursday, March 21, 2024

General Automotive, Fleet Management, Other Automotive, Automotive, SAAR, Insurance, Bias, MSRP, GlobalData, Sale, Q1, J.D. Power, Retail

New-vehicle total sales for Q1 2024 are projected to reach 3,830,500 units, a 4.5% increase from Q1 2023 when adjusted for selling days.

Key Points:

New-vehicle total sales for Q1 2024 are projected to reach 3,830,500 units, a 4.5% increase from Q1 2023 when adjusted for selling days.
New-vehicle retail sales for March 2024 are expected to increase when compared with March 2023.
Retail sales of new vehicles are expected to reach 1,225,000 units, a 10.7% increase from March 2023.
New-vehicle retail sales for Q1 2024 are projected to reach 3,066,500 units, a 4.5% increase from Q1 2023 when adjusted for selling days.

S&P Global Mobility: March 2024 US auto sales reflect uneasy progress

Retrieved on:

Tuesday, March 26, 2024

SAAR, Environment

SOUTHFIELD, Mich., March 26, 2024 /PRNewswire/ -- With volume for the month projected at 1.47 million units, March 2024 U.S. auto sales are estimated to translate to an estimated sales pace of 15.8 million units (seasonally adjusted annual rate: SAAR). This would bring the SAAR average in the first quarter of the year to a level of 15.5 million units. While progress from a year-ago reading of 15 million units, it would reflect a step down from the 15.7 million unit reading of the fourth quarter of 2023, reflective of the volatile nature of the current auto demand environment.

Key Points:

SOUTHFIELD, Mich., March 26, 2024 /PRNewswire/ -- With volume for the month projected at 1.47 million units, March 2024 U.S. auto sales are estimated to translate to an estimated sales pace of 15.8 million units (seasonally adjusted annual rate: SAAR).
This would bring the SAAR average in the first quarter of the year to a level of 15.5 million units.
The S&P Global Mobility US auto outlook for 2024 reflects sustained, but more moderate growth levels for light vehicle sales.
"S&P Global Mobility projects calendar-year 2024 light vehicle sales volume of 15.96 million units, a 3% increase from the 2023 tally."

Cox Automotive Forecast: March New-Vehicle Sales To Increase 4.5% From Year Ago Levels As U.S. Market Continues to Normalize

Retrieved on:

Tuesday, March 26, 2024

SAAR, Swings, Cox Enterprises, Weather

March's sales volume is expected to reach 1.45 million units, a 4.5% increase from one year ago and a 14.4% increase from February.

Key Points:

March's sales volume is expected to reach 1.45 million units, a 4.5% increase from one year ago and a 14.4% increase from February.
ATLANTA, March 26, 2024 /PRNewswire/ -- Cox Automotive forecasts U.S. new-vehicle sales in Q1 will increase 5.6% year over year and reach 3.8 million units.
The year-over-year increase in Q1 sales suggests that the new-vehicle market in the U.S. continues to recover slowly from the 10-year low – 13.8 million total sales – recorded in 2022.
Sales volume in March, when announced early next month, is expected to show gains over March 2023 and 2022 as the market continues to expand.

New-Vehicle Average Transaction Prices Retreat for Second Straight Month, According to Latest Kelley Blue Book Estimates

Retrieved on:

Monday, March 11, 2024

ATLANTA, March 11, 2024 /PRNewswire/ -- New-vehicle transaction prices (ATP) in February 2024 held mostly steady, according to an analysis by Kelley Blue Book, falling less than one-tenth of 1% from the revised January ATP.

Key Points:

ATLANTA, March 11, 2024 /PRNewswire/ -- New-vehicle transaction prices (ATP) in February 2024 held mostly steady, according to an analysis by Kelley Blue Book, falling less than one-tenth of 1% from the revised January ATP.
Incentive packages continue to be highest with Infiniti, Audi, Mini, and Polestar, all over 10% of average transaction price, according to Kelley Blue Book estimates.
Incentives at Land Rover averaged only 2.0% of ATP, according to the Kelley Blue Book estimates.
Model 3 transaction prices last month, at $43,614, were lower year over year by 12% and near the lowest level on record.

S&P Global Mobility: February 2024 US auto sales to bounce mildly

Retrieved on:

Tuesday, February 27, 2024

Growth, SAAR, Environment

SOUTHFIELD, Mich., Feb. 27, 2024 /PRNewswire/ -- With volume for the month projected at 1.22 million units, February 2024 U.S. auto sales are estimated to translate to an estimated sales pace of 15.5 million units (seasonally adjusted annual rate: SAAR). This would be a step up from the chilly 15.0 million unit pace of January 2024 and reflective of the volatile nature of the current auto demand environment.

Key Points:

SOUTHFIELD, Mich., Feb. 27, 2024 /PRNewswire/ -- With volume for the month projected at 1.22 million units, February 2024 U.S. auto sales are estimated to translate to an estimated sales pace of 15.5 million units (seasonally adjusted annual rate: SAAR).
Auto sales in February should recover mildly from the January 2024 result, but sustained momentum seems tough to come by
"We expect that auto sales in February should recover mildly from the January 2024 result, but sustained momentum seems tough to come by, given the current purchase environment facing auto consumers," said Chris Hopson, principal analyst at S&P Global Mobility.
The S&P Global Mobility US auto outlook for 2024 reflects sustained, but more moderate growth levels for light vehicle sales.
S&P Global Mobility projects calendar-year 2024 light vehicle sales volume of 15.9 million units, a 3% increase from the 2023 tally.

Cox Automotive Forecast: New-Vehicle Sales Pick Up in February After Slow Start to 2024

Retrieved on:

Monday, February 26, 2024

Cox, SAAR, Weather, Cox Enterprises, Airline

The sales pace in February is expected to be higher by 0.5 million from last February's 14.9 million pace and up from January's 15.0 million level.

Key Points:

The sales pace in February is expected to be higher by 0.5 million from last February's 14.9 million pace and up from January's 15.0 million level.
February's new-vehicle sales volume is forecast to rise 6.3% year over year and reach 1.22 million units.
According to Charlie Chesbrough, Senior Economist at Cox Automotive: "January and February are slow months for vehicle sales, but the new-vehicle sales pace this past January saw a surprising decline from December.
We are also seeing solid inventory levels and growing incentives and discounts, which should help sales volume."

Kelley Blue Book Reports New-Vehicle Transaction Prices Continue to Tumble, Down 3.5% Year Over Year in January

Retrieved on:

Tuesday, February 13, 2024

EVS, Tesla Model Y, Nissan Leaf, SAAR, Kelley Blue Book, EV, SUV, Cox Enterprises, Business intelligence, VW, Hyundai, ATP, Cryptocurrency

Transaction prices were down 3.5% year over year in January and lower 2.6% month over month; price declines in January accelerated compared to December.

Key Points:

Transaction prices were down 3.5% year over year in January and lower 2.6% month over month; price declines in January accelerated compared to December.
ATLANTA, Feb. 13, 2024 /PRNewswire/ -- The U.S. new-vehicle market sales pace slowed in January 2024, despite lower prices and higher incentives.
Prices have been trending downward for roughly six months now as automakers are sweetening deals to keep the sales flowing."
Cox Automotive and Kelley Blue Book revised the EV transaction price data in January to more accurately capture the expanding electric vehicle market.

J.D. Power-GlobalData U.S. Automotive Forecast for January 2024

Retrieved on:

Friday, January 26, 2024

Fleet Management, Other Automotive, General Automotive, Automotive, EV, Electric Vehicles, SAAR, Insurance, MSRP, J.D. Power, GlobalData, Rare-earth element

January 2024 has 25 selling days, one more than January 2023.

Key Points:

January 2024 has 25 selling days, one more than January 2023.
The seasonally adjusted annualized rate (SAAR) for total new-vehicle sales is expected to be 15.2 million units, flat from January 2023.
New-vehicle retail sales for January 2024 are expected to decrease when compared with January 2023.
Retail sales of new vehicles this month are expected to reach 862,400 units, a 1.8% decrease from January 2023.