Benchmark auto sales9/3/2023 The average daily sales conversion rate of 59.5% in the first half of May declined relative to April’s daily average of 60.3% and was below the May 2019 daily average of 59.9%.Īll eight major market segments saw seasonally adjusted prices that were again lower year over year in the first half of May. Over the first 15 days of May, MMR Retention, the average difference in price relative to current MMR, averaged 99%, indicating that valuation models remain slightly ahead of market prices. Prices in the first two weeks of May have been generally flat over the last four years, with average changes between ‑0.1% and 0.1% since 2019. Over the last two weeks, Manheim Market Report (MMR) prices were nearly unchanged compared to the end of April. The non-adjusted price change in the first half of May declined 0.9% compared to April, while the unadjusted price was down 7.5% year over year. The seasonal adjustment contributed to the decline. The midmonth Manheim Used Vehicle Value Index dropped to 225.9, which was down 7.0% from the full month of May 2022. Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 2.1% from April in the first 15 days of May. The presentation will be available one hour before the conference call. Jonathan and Chris will be joined by Jeremy Robb, Senior Director, Economic & Industry Insights at Cox Automotive, who will highlight key wholesale pricing and sales conversion metrics.įor questions, or to request data, please email If you want regular updates about the Manhiem Used Vehicle Value Index, as well as direct invitations to the quarterly call sent to you, please sign up for our Cox Automotive newsletter and select Manheim Used Vehicle Value Index quarterly calls. You are invited to join Cox Automotive Chief Economist Jonathan Smoke and Chris Frey, Senior Manager of Economic and Industry Insights, as they discuss the latest Manheim Used Vehicle Value Index and the major economic and industry trends that shaped the quarter. Listen to the recording of the last call.
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