Midweek News Roundup From Cox Motorsports
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Before the Thanksgiving break, we are serving up a quick buffet of the latest data and insights from Cox Automotive. In the Auto Market Report video published this morning, Cox Automotive Chief Economist Jonathan Smoke noted that the pace of new-vehicle retail sales is increasing, with sales up 14% compared to last year.
Over the past 10 years, Kelley Blue Book has reported only two year-over-year declines in new-vehicle average transaction price (ATP) data: once in September and again in October 2023.
Inventory rose at the beginning of November as listing prices fell for both new and used vehicles, according to Cox Automotive’s analysis of vAuto Available Inventory data.
The latest midmonth Manheim Used Vehicle Value Index (MUVVI) revealed a continued downward trend in wholesale used-vehicle prices. In today’s Manheim Market Insights video, you can learn more about the used-vehicle market from Jeremy Robb, senior director of Economic and Industry Insights at Cox Automotive.
Worth noting: In the recently published 2023 Digitization of Car Buying Study, Cox Automotive examines how digital retail can save customers time, improve satisfaction, and provide a personalized and seamless buying experience. Discover the key takeaways from the study.
In this season of gratitude, we at Cox Automotive are grateful that you trust us for the latest data and insights. Visit the Cox Automotive Newsroom for the latest on the industry’s most important topics. Bookmark the Auto Market Snapshot, a one-stop dashboard for the data our team is tracking.
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