Cox Automotive Update: High Prices Are Here To Stay

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The Cox Automotive Industry Insights is sharing three quick and valuable data points. - IMAGE: Cox Automotive

The Cox Automotive Industry Insights is sharing three quick and valuable data points.

IMAGE: Cox Automotive

COX AUTOMOTIVE – The Cox Automotive Industry Insights is sharing three quick data points we hope you find valuable, and also a reminder we will be holding the Industry Insights 2022 conference call tomorrow, Thursday, January 13th.

First up: Average Transaction Prices. We hit a new record – again! – in December, which was well expected. Luxury vehicles tend to sell better in the final months of the year, pushing new-vehicle prices higher. In December, they pushed past $47,000. All the details from our Kelley Blue Book team are here.

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Next: Wholesale auction prices for used vehicles cooled a bit in the final weeks of 2021, but still ended the year in record territory. On Friday, our team shared the December and Q4 Manheim Used Vehicle Value Index (MUVVI) findings, and offered their insights on what’s in store for the used-vehicle market in 2022. We have posted a replay of the quarterly MUVVI call

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 in the Newsroom.  

Lastly: In recent discussions about used-vehicle values, there’s been one elephant in the room: Has the run-up of used-vehicle prices set the market up for a crash in 2022? Some analysts are projecting just such a scenario. Our Chief Economist Jonathan Smoke has been thinking about that point and shared his insights in a new Smoke on Cars post yesterday. His answer is pretty clear: No, Used Vehicle Values Are Not Going To Crash

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