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Consumer Price Index: Difference between revisions
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Past Developments: [[Automotive Industry:United States#Prices|Automotive Industry:United States]] | Past Developments: [[Automotive Industry:United States#Prices|Automotive Industry:United States]] | ||
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* Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) were unchanged in January compared to December. The Manheim Used Vehicle Value Index (MUVVI) remained at 204.0 but down 9.2% from a year ago. The index experienced the same 0.0% monthly change from December 2021 to January 2022.<ref>https://www.coxautoinc.com/market-insights/january-2024-muvvi/</ref> | * Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) were unchanged in January compared to December. The Manheim Used Vehicle Value Index (MUVVI) remained at 204.0 but down 9.2% from a year ago. The index experienced the same 0.0% monthly change from December 2021 to January 2022.<ref>https://www.coxautoinc.com/market-insights/january-2024-muvvi/</ref> | ||
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* The average daily sales conversion rate increased to 56.0%, which indicates that demand was improving relative to year-end and fairly normal for this time of year. For comparison, the daily sales conversion rate averaged 55.5% in January during the last three years. | * The average daily sales conversion rate increased to 56.0%, which indicates that demand was improving relative to year-end and fairly normal for this time of year. For comparison, the daily sales conversion rate averaged 55.5% in January during the last three years. | ||
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* The average transaction price of a new vehicle in January declined 2.6% from December to an initial estimate of $47,401, according to Kelley Blue Book data. This was the lowest average price since May 2022.<ref>https://www.coxautoinc.com/market-insights/auto-market-weekly-summary-02-12-2024/</ref> | * The average transaction price of a new vehicle in January declined 2.6% from December to an initial estimate of $47,401, according to Kelley Blue Book data. This was the lowest average price since May 2022.<ref>https://www.coxautoinc.com/market-insights/auto-market-weekly-summary-02-12-2024/</ref> | ||