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Wholesale Prices Surging Early in 2021, Reach Record High in February

Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 3.79% month over month in February. This brought the Manheim Used Vehicle Value Index to 169.2, a 17.9% increase from a year ago and a record high for the Index. Manheim Market Report (MMR) prices strengthened as the month progressed. The Three-Year-Old … Continued

Chip Shortage Still No Major Disruptor of Inventory

Vehicle models affected by the global shortage of computer chips that forced automakers to trim production continue to have a healthy supply, with some exceptions, according to a Cox Automotive analysis of vAuto Available Inventory data. In the U.S., about 30 models are affected by the chip shortage based on AutoForecast Solutions’ analysis of plants that … Continued

13-Month Rolling Used-Vehicle SAAR

As another data point to monitor the health of the automotive market, according to Cox Automotive estimates, total used-vehicle sales were down 3% year over year in February. We estimate the February used SAAR to be 38.0 million, down from 39.4 million last February and flat compared to January’s 38.1 million rate. The used retail … Continued

Japanese Hybrids Dominate Electrification in Shopping, Sales

New EVs – 100% battery-powered vehicles – are generating a lot of buzz and excitement in the market right now, but in fact, U.S. consumers seem to favor hybrids and plug-in hybrids when shopping and buying electrified vehicles, specifically those from Toyota and Honda, according to Cox Automotive data. February sales were further proof. While … Continued

2020 Was a Breakout Year for New Form Online Retailers

For 11 years now, the Cox Automotive Research & Market Intelligence team has been tracking the journey of car buyers, a winding road roughly 50 million Americans take every year as they set out to buy a vehicle, either new or used. The study, which has evolved over the past decade, is designed to provide a comprehensive … Continued

Cox Automotive Analysis: FCA’s Q4 2020 U.S. Market Performance

The last quarterly financial report issued by Fiat Chrysler Automobiles, now part of Stellantis, will be posted on Wednesday, March 3. In January, FCA closed the deal with France’s PSA Group (Peugeot) to merge into the newly formed Stellantis, becoming the world’s fourth-largest car company. Speculation has swirled regarding the new management’s plan for the … Continued

Used-Vehicle Supply Dips as Sales Pace Quickens

Used-vehicle inventory and prices slipped a bit in January as the sales pace for the month quickened, according to a Cox Automotive analysis of vAuto Available Inventory data. 2.66M Total Unsold Used Vehicles end of January 48 Days’ Supply $21,572 Average Listing Price 66,545 Average Miles The total U.S. supply of unsold used vehicles closed … Continued

Wholesale Prices Jumping Early in 2021

Given the ongoing turbulence in the automotive marketplace, the Cox Automotive Economic & Industry Insights team is publishing its mid-month view of the wholesale market, including wholesale prices. The posted material provides commentary and an updated look at the Manheim Used Vehicle Value Index and general information on segment performance for the first 15 days … Continued

Vehicle Affordability Improves for Third Consecutive Month in January

Affordability improved in January, as represented by median weeks of income needed to purchase a new vehicle declined to 32.2 weeks from 33.9 weeks in December. The Cox Automotive/Moody’s Analytics Vehicle Affordability Index continues to show that new vehicles have become relatively more affordable since October 2020, when the affordability index reached 35.3 weeks, the … Continued

Average New-Vehicle Transaction Prices Continue to Surpass $40,000, According to Kelley Blue Book

The estimated average transaction price for a light vehicle in the United States was $40,857 in January 2021, according to the valuation analysts at Kelley Blue Book. New-vehicle prices increased $2,110 (up 5.45%) from January 2020, while falling $295 (down 0.72%) from last month.      “January 2021 prices are coming off a historical quarter, with average transaction prices reaching more than $40,000 for the first … Continued