Click for more.
Calendar year 2023 ended with the Manheim* Used Vehicle Value Index down 0.5% in December from November, following a trend that began in the second half of the year. The Manheim Used Vehicle Value Index (MUVVI) dropped to 204.0, down 7% from the previous year, a larger decline than originally forecast. Compared to the index peak in December 2021, used-vehicle values are down ~21%.
“We ended 2023 with about half of the used-vehicle value decline we saw in 2022, but still more than we’d see in a typical year,” said Cox Automotive Chief Economist Jonathan Smoke. “For 2024, the key word for the wholesale market is ‘normalcy.’ Manheim expects constrained growth with a volume increase of less than 1%. As for price patterns, we anticipate a normalization trend, and we expect that 2024 will be the first year in five where we will experience fairly normal depreciation in the wholesale market.” Continue reading
Car Star Wars – Honda Debuts New Global EV Line
Click to be beamed up.
Honda today announced the “Honda 0 Series,” a new global EV line launching in 2026, represented by the world premiere of two concept models, Saloon and Space-Hub, at a trade show. During 2026, Honda will introduce a model of the Honda 0 Series based on the sedan concept in North America, followed by model introductions in Japan, Asia, Europe, Africa and the Middle East and South America. Honda also debuted a new H mark logo that will be used solely for the next-generation EV models.
“The mobility we dream of is not an extension of the trend of ‘thick, heavy, but smart’ EVs,” said Toshihiro Mibe, Global CEO of Honda. “We will create a completely new value from zero based on thin, light and wise as the foundation for our new Honda 0 EV series to further advance the joy and freedom of mobility to the next level.” Continue reading →