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Automotive Industry:United States: Difference between revisions
Automotive Industry:United States (view source)
Revision as of 19:47, 12 January 2024
, 12 January 2024→December 2023
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* 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. | * 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%. | * 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%. | ||
==== New ==== | |||
* The U.S. new-vehicle average transaction price in December 2023 was $48,759, an increase of 1.3% month over month but down 2.4% year over year<ref>https://www.coxautoinc.com/market-insights/kbb-atp-december-2023/</ref> | |||
* New-vehicle sales incentives climbed for the second month in a row in December after retreating slightly in October, reaching 5.5% of the average transaction price (ATP) for the first time since August 2021. For comparison, one year ago, incentives were 2.7% of ATP | |||
== Inventory == | == Inventory == | ||