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| ===7. Car Prices=== | | ===7. Car Prices=== |
| | 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) increased 4.3% in February from January. This was the largest increase for the full month of February since 2009’s 4.4% rise. <ref>https://publish.manheim.com/en/services/consulting/used-vehicle-value-index.html</ref> This recent increase could create upward pressure on inflation short term. | | * Wholesale used-vehicle prices increased 1.5% in March from February. The Manheim Used Vehicle Value Index (MUVVI) rose to 238.1, down 2.4% from a year ago.<ref>https://www.coxautoinc.com/market-insights/march-2023-muvvi/</ref> |
| *The Manheim Used Vehicle Value Index (MUVVI) rose to 234.5, down 7.0% from a year ago.
| | * Compared to last March, midsize and compact cars lost less than the industry, at 1.4% and 2.2%, respectively, while luxury cars lost 8.0%, and the remaining three segments declined between 2.7% and 3.8%. Pickups showed a 0.6% increase. |
| *The average new car in America sold for $48,763 in February – a decline of 1.4% from January’s figure. It’s still 5.3% higher than a year ago. But it’s the third straight month of decreases – a sustained price drop.<ref>https://www.kbb.com/car-news/average-new-car-price-falling-incentives-making-a-comeback/</ref>
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| *JPM research expects prices to decline by 2.5% to 5% for new cars and by 10% to 20% for used cars in 2023.<ref>https://www.jpmorgan.com/insights/research/when-will-car-prices-drop#:~:text=Average%20prices%20were%20up%2042.5,to%2020%25%20for%20used%20cars.</ref> | |
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| ===8. Lower demand=== | | ===8. Lower demand=== |
