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Wholesale used-vehicle prices (mix, mileage, seasonally adjusted basis) moved 0.4% higher in January compared to December, causing the Manheim Used Vehicle Value Index (MUVVI) to increase to 205.6, a gain of 0.8% from a year ago. The seasonal adjustment to the index muted the movement for the month, as non-seasonally adjusted values rose faster than seasonally adjusted values. The non-adjusted price in January increased by 0.6% compared to December, moving the un-adjusted average price up 1.1% year over year, Cox Automotive said today.* Notably absent was any mention of the Trump tariff chaos, which likely will significantly increase new vehicle prices and thereby increasing demand and prices for used vehicles.
“While it’s not yet spring, wholesale values increased more than we usually see in the month of January, with particular strength at the end of the month,” said Jeremy Robb, senior director of Economic and Industry Insights at Cox Automotive. “The Manheim index is at the highest point since October 2023, after we experienced stronger-than-usual gains in non-seasonally adjusted values. Currently, retail days’ supply at used dealerships sits nine days lower than last year, and we are just now on the cusp of starting the spring wholesale market.” Continue reading →
U.S. EV Adoption to Stall in 2025
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J.D. Power said today that it is projecting that 2025 will be a flat year for EV adoption, in which total retail share will hold at 9.1% as manufacturers and consumers adjust to new market undercurrents.*
“Amid a flurry of speculation about how Trump administration policies on everything from EV incentives and tariffs on foreign imports to federal emissions and mileage standards will affect the future of EV adoption, J.D. Power has focused its attention on the data, reassessing the major trends in EV adoption for the past four years, and analyzing current government policies and manufacturer strategies to get the most accurate reading possible on consumer sentiment heading into 2025. Though many variables are still at play, which could create potential headwinds and tailwinds to EV adoption, J.D. Power is projecting that 2025 will be a reset year for EV adoption, in which total retail share will hold at 9.1% as manufacturers and consumers adjust to new market dynamics,” J.D. Power said. Continue reading →