As another data point to monitor the health of the automotive market, Cox Automotive is launching a 13-month rolling used-vehicle seasonally adjusted annual rate (SAAR). With the average new-vehicle transaction price remaining north of $37,000, the used-vehicle market continues to see high demand. Consumers that might have purchased new in the past are looking to … Continued
Combined rental, commercial and government purchases of new vehicles were up 23% year over year in August, and up 18% month over month. The commercial (+10%) and rental (+45%) fleet channels were up in August. Automakers like Fiat Chrysler Automobiles, General Motors and Nissan all achieved notable gains in fleet sales. Fleet sales are now up 7% … Continued
New-vehicle sales remain weak versus last year and are down 2% year-to-date in 2019. It would be worse without strong fleet sales. Retail sales are down 3% and fleet sales are up 6% this year. The used-vehicle market, on the other hand, continues to see favorable performance. Affordability concerns driven by higher vehicle prices and … Continued
As has been the case all year, July saw a gain in fleet sales with roughly 175,000 units entering various fleet channels. Combined rental, commercial and government purchases of new vehicles were up 8% year over year in July, but down 37% month over month. The commercial fleet channel was up 30% year over year … Continued
Sales of certified pre-owned (CPO) vehicles increased 1% in May compared to May 2018 and were up 8% compared to April. For the month, 251,863 CPO units were sold. This brings the total CPO sales for 2019 to 1,162,441 units. This year CPO sales are up 2% versus 2018, growing at a comfortable pace above 2018’s … Continued
The Cox Automotive Economic Industry insights team’s goal is to help automotive industry stakeholders make the best decisions for the future. The 2019 Cox Automotive Market Insights & Outlook flipbook makes accessing key data and insights easy. Replacing the hard copy version, this digital format allows readers to quickly find what they are looking for and can be downloaded … Continued
In 2018, the auto market benefited from an increase in aggressive auto lending that resulted in growth in subprime lending for the first time since 2015. Auto lending grew by 2.7% last year, supported by a 3.1% gain in subprime dollar volumes. This aggressiveness was encouraged by low defaults and higher recoveries that were related to the strong economy. But even before the … Continued
New-vehicle retail sales were down 2% in April, leading to a retail seasonally-adjusted annual rate of 13.5 million units, down from 14.1 million last April. The affordability issue is likely to impact the retail side of the market more than the fleet side which will support gains in fleet share over the course of the year. … Continued
Like the used market, the new-vehicle market showed weakness in March. March new-vehicle sales were down 2.2% year-over-year, with one less selling day compared to March 2018. However, the March 2019 SAAR came in at 17.5 million, improving versus last year’s 17.2 million. Cars continue to see declines, as sales in March fell 7.9% compared … Continued
The wholesale market plays a central role in facilitating the flow of used vehicle inventory. Like 2018, this year is poised to be a great year for offsite digital volume growth. That does not mean traditional auction volume will collapse, but growth in the flow of vehicles will favor non-tradition channels and not the physical … Continued