The US Department of Transportation (DOT) today announced the approval of $2.5 billion in bonds authority allocated for the Brightline West High-Speed Intercity Passenger Rail project.* When completed, it will connect Las Vegas, Nevada, and Southern California.
“Today, the Biden-Harris administration takes the next step to fulfill the promise of high-speed rail in the American West, with $2.5 billion in private activity bond authority to lay tracks, create jobs, and connect American cities,” said U.S. Transportation Secretary Pete Buttigieg. Continue reading
Manheim – Used-Vehicle Prices Drop in January
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Wholesale used-vehicle prices decreased 1.0% from December during the first 15 days of January, according to data just released by industry expert Manheim.* The Manheim mid-month Used Vehicle Value Index dropped to 201.9, which was down 10.2% from the full month of January 2023. The usual seasonal adjustment minimally added to the decline. The non-adjusted price change in the first half of January dropped 0.9% compared to December, while the un-adjusted price was down 9.9% year-over-year.
“As we start January, we are seeing wholesale values decline a little in the first part of the month,” said Jeremy Robb, senior director of Industry Insights, Cox Automotive,** the parent company of Manheim. “While it’s pretty early to call it a trend, declines are fairly normal relative to the last several years and maybe just a smidge stronger than what we’d usually see.” Continue reading →