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SVTPerformance's Chain of Restaurants
Road Side Pub
Current New Vehicle Market
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<blockquote data-quote="Weather Man" data-source="post: 16995337" data-attributes="member: 137766"><p><h3>Used auto prices fall again but are still much higher than before the pandemic</h3><p>Jan. 08, 2024 3:12 PM ET<a href="https://seekingalpha.com/symbol/KMX?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3AKMX" target="_blank">CarMax, Inc. (KMX) Stock</a>, <a href="https://seekingalpha.com/symbol/CVNA?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3ACVNA" target="_blank">CVNA Stock</a>, <a href="https://seekingalpha.com/symbol/CARS?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3ACARS" target="_blank">CARS Stock</a>, <a href="https://seekingalpha.com/symbol/GM?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3AGM" target="_blank">GM Stock</a>, <a href="https://seekingalpha.com/symbol/F?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3AF" target="_blank">F Stock</a>, <a href="https://seekingalpha.com/symbol/TM?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3ATM" target="_blank">TM Stock</a><a href="https://seekingalpha.com/symbol/AN?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3AAN" target="_blank">AN</a>, <a href="https://seekingalpha.com/symbol/PAG?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3APAG" target="_blank">PAG</a>, <a href="https://seekingalpha.com/symbol/ABG?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3AABG" target="_blank">ABG</a>, <a href="https://seekingalpha.com/symbol/GPI?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3AGPI" target="_blank">GPI</a>, <a href="https://seekingalpha.com/symbol/SAH?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3ASAH" target="_blank">SAH</a>, <a href="https://seekingalpha.com/symbol/LAD?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3ALAD" target="_blank">LAD</a>, <a href="https://seekingalpha.com/symbol/CARG?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3ACARG" target="_blank">CARG</a>, <a href="https://seekingalpha.com/symbol/VRM?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3AVRM" target="_blank">VRM</a>, <a href="https://seekingalpha.com/symbol/SFTGQ?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3ASFTGQ" target="_blank">SFTGQ</a>By: <a href="https://seekingalpha.com/author/sa-editor-clark-schultz?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cbutton%3Aauthor_name%7Cfirst_level_url%3Anews" target="_blank">Clark Schultz</a>, SA News Editor</p><p><img src="https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1486501354/image_1486501354.jpg?io=getty-c-w750" alt="Closeup male hand giving a car key for vehicle loan credit financial, lease or rental concept" class="fr-fic fr-dii fr-draggable " style="" /></p><p>coffeekai/iStock via Getty Images</p><p>The Manheim Used Vehicle Value Index for December showed that wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) decreased <a href="https://site.manheim.com/en/services/consulting/used-vehicle-value-index.html" target="_blank">0.5%</a> in December from November and were down 7.0% from a year ago. The seasonal adjustment reduced the December decrease. The non-adjusted price in December declined by 2.0% compared to November, moving the unadjusted average price down 7.7% year over year.</p><p>"December’s decline brought a volatile year to a close," noted Cox Automotive Director Jeremy Robb. Looking back at the year, Robb said the spring bounce was much more pronounced than expected in 2023, and prices slid just as rapidly after that bounce, finishing more calmly in December as expected.</p><p>"The 7.0% year-over-year loss was larger than our original forecast, but it pales in comparison to the nearly 15% decline we had a year earlier. 2024 is looking to be less volatile than 2023, but we’ve been taught to expect the unexpected in the wholesale market."</p><p>For December, used vehicle prices were down 11.7% for compact cars, fell 6.9% for luxury autos, and declined 6.5% for the SUV/CUV category. Looking ahead, used vehicle sales are expected to increase by less than 1% to 36.2M units. That forecast includes 19.2M in used vehicle retail sales. "For the economy and the auto market, we're in for just 1% to 2% growth, but growth beats a recession," noted Cox Automotive Chief Economist Jonathan Smoke.</p><p>Despite the recent downtrend, used auto prices are still up more than 50% from the pre-pandemic average in 2019.</p></blockquote><p></p>
[QUOTE="Weather Man, post: 16995337, member: 137766"] [HEADING=2]Used auto prices fall again but are still much higher than before the pandemic[/HEADING] Jan. 08, 2024 3:12 PM ET[URL='https://seekingalpha.com/symbol/KMX?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3AKMX']CarMax, Inc. (KMX) Stock[/URL], [URL='https://seekingalpha.com/symbol/CVNA?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3ACVNA']CVNA Stock[/URL], [URL='https://seekingalpha.com/symbol/CARS?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3ACARS']CARS Stock[/URL], [URL='https://seekingalpha.com/symbol/GM?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3AGM']GM Stock[/URL], [URL='https://seekingalpha.com/symbol/F?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3AF']F Stock[/URL], [URL='https://seekingalpha.com/symbol/TM?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3ATM']TM Stock[/URL][URL='https://seekingalpha.com/symbol/AN?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3AAN']AN[/URL], [URL='https://seekingalpha.com/symbol/PAG?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3APAG']PAG[/URL], [URL='https://seekingalpha.com/symbol/ABG?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3AABG']ABG[/URL], [URL='https://seekingalpha.com/symbol/GPI?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3AGPI']GPI[/URL], [URL='https://seekingalpha.com/symbol/SAH?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3ASAH']SAH[/URL], [URL='https://seekingalpha.com/symbol/LAD?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3ALAD']LAD[/URL], [URL='https://seekingalpha.com/symbol/CARG?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3ACARG']CARG[/URL], [URL='https://seekingalpha.com/symbol/VRM?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3AVRM']VRM[/URL], [URL='https://seekingalpha.com/symbol/SFTGQ?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3ASFTGQ']SFTGQ[/URL]By: [URL='https://seekingalpha.com/author/sa-editor-clark-schultz?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cbutton%3Aauthor_name%7Cfirst_level_url%3Anews']Clark Schultz[/URL], SA News Editor [IMG alt="Closeup male hand giving a car key for vehicle loan credit financial, lease or rental concept"]https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1486501354/image_1486501354.jpg?io=getty-c-w750[/IMG] coffeekai/iStock via Getty Images The Manheim Used Vehicle Value Index for December showed that wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) decreased [URL='https://site.manheim.com/en/services/consulting/used-vehicle-value-index.html']0.5%[/URL] in December from November and were down 7.0% from a year ago. The seasonal adjustment reduced the December decrease. The non-adjusted price in December declined by 2.0% compared to November, moving the unadjusted average price down 7.7% year over year. "December’s decline brought a volatile year to a close," noted Cox Automotive Director Jeremy Robb. Looking back at the year, Robb said the spring bounce was much more pronounced than expected in 2023, and prices slid just as rapidly after that bounce, finishing more calmly in December as expected. "The 7.0% year-over-year loss was larger than our original forecast, but it pales in comparison to the nearly 15% decline we had a year earlier. 2024 is looking to be less volatile than 2023, but we’ve been taught to expect the unexpected in the wholesale market." For December, used vehicle prices were down 11.7% for compact cars, fell 6.9% for luxury autos, and declined 6.5% for the SUV/CUV category. Looking ahead, used vehicle sales are expected to increase by less than 1% to 36.2M units. That forecast includes 19.2M in used vehicle retail sales. "For the economy and the auto market, we're in for just 1% to 2% growth, but growth beats a recession," noted Cox Automotive Chief Economist Jonathan Smoke. Despite the recent downtrend, used auto prices are still up more than 50% from the pre-pandemic average in 2019. [/QUOTE]
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