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Tag Archives: Jeremy Robb
Used Vehicle Prices Down as Consumer Sentiment Drops
“We started to see stronger sales trends in late July and early August for retail and wholesale markets, and that’s causing some additional volatility in wholesale pricing trends in recent weeks, against a stronger comparison from last year,” said Jeremy Robb, senior director of Economic and Industry Insights at Cox Automotive. Continue reading
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Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, autotrader, Cox Automotive, Jeremy Robb, kelley blue book, Ken Zino, Manheim, Morning Consult, University of Michigan sentiment index, X @KenAutoinformed
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Used Vehicle Prices Poised to Soar?
“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.”
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.
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Manheim – Used-Vehicle Prices Drop in January
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 … Continue reading
Manheim – Used-Vehicle Values Fall -21% from All-Time High
“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
U.S. New Vehicle Sales Forecast Flat in March
“After a year marked by policy-driven sales volatility, the new-vehicle market has settled into a slower rhythm in early 2026,” said Jeremy Robb, chief economist at Cox Automotive. “The pull-ahead demand created by last spring’s tariff announcements and, later, the loss of EV tax credits is (sic) now all firmly in the rear-view mirror. While the stimulus of a good tax-return season is a positive, the new-vehicle market today is being shaped by higher vehicle prices, ongoing inflationary pressures, and still-elevated interest rates.” Continue reading →