Automotive Industry:United States: Difference between revisions

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 == Prices ==
-'''Used Car Index'''[[File:Screenshot 2023-11-13 102603.png|alt=|center|thumb|835x835px|https://www.coxautoinc.com/market-insights/august-2023-muvvi/]]'''New Car Avg Prices'''
+By applying statistical analysis to its database of more than 5 million used vehicle transactions annually, Manheim has developed a measurement of used vehicle prices that is independent of underlying shifts in the characteristics of vehicles being sold.
-[[File:Screenshot 2023-12-11 114407.png|center|thumb|845x845px]]
+Methodology: https://site.manheim.com/en/services/consulting/used-vehicle-value-index.html
+'''Used Car Index'''[[File:Screenshot 2023-11-13 102603.png|alt=|center|thumb|835x835px|https://site.manheim.com/en/services/consulting/used-vehicle-value-index.html]]'''New Car Avg Prices'''
+[[File:Screenshot 2024-01-09 172602.png|alt=|center|thumb|845x845px|https://www.coxautoinc.com/market-insights/kbb-atp-november-2023/]]
 {| class="wikitable"
 ! rowspan="2" |Date
@@ Line 293: / Line 297: @@
 !Index % MoM
 !Index % YoY
+|-
+|Dec-23
+|204.0
+|18,657
+| -0.5%
+| -7.0%
 |-
 |Nov-23
@@ Line 794: / Line 804: @@
 * The average daily sales conversion rate was steady at 52.3%, which indicates that demand was stable and relatively strong for the time of year. For comparison, the daily sales conversion rate averaged 50.8% in November 2019.
+==== New ====
+* The U.S. new-vehicle average transaction price in November 2023 was $48,247, an increase of less than 1% month over month and down year over year by 1.5%<ref>https://www.coxautoinc.com/market-insights/kbb-atp-november-2023/</ref>
+* In addition, new-vehicle sales incentives climbed further in November 2023 after retreating slightly in October, surpassing 5% of the average transaction price (ATP) for the first time since September 2021. New-vehicle sales incentives were up 136% year over year in November, indicating the new-vehicle market is shifting to a buyer’s market, not a seller’s market.
+* The average price lost ground on the average manufacturer’s suggested retail price (MSRP), declining to 98.3% in November, the lowest level since April 2021. The average price decreased 1.5% from a year ago, while the average MSRP increased nearly 1% from a year ago. In the past decade, new-vehicle MSRPs have never decreased year over year.
+=== December 2023 ===
+==== Used ====
+* Following a downward trend that began in the second half of the year, 2023 ended with the Manheim Used Vehicle Value Index down 0.5% in December from November. <ref>https://www.coxautoinc.com/news/december-2023-muvvi/</ref>
+* The Manheim Used Vehicle Value Index (MUVVI) dropped to 204.0, down 7.0% from the previous year, a larger decline than originally expected.
+* Compared to the index peak in December 2021, used-vehicle values are down nearly 21%.
+* Over the month of December, daily MMR Retention, which is the average difference in price relative to the current MMR, averaged 99.0%, meaning market prices were just below MMR values. The average daily sales conversion rate increased to 53.8%, which indicates demand was improving and relatively strong for the time of year.
+* The average retail listing price for a used vehicle declined 0.4% over the last four weeks. Year over year, retail used-vehicle listing prices in late December were down 4.3%.
 == Inventory ==