Used-vehicle inventory rose in December with the days’ supply hitting 51 for the first time since January 2021, and the average listing price exceeding $28,000 for the first time ever, according to the Cox Automotive analysis of vAuto Available Inventory data. 2.38M Total UnsoldUsed Vehiclesas of December 27 51 Days’ Supply $28,205 Average Listing Price … Continued
Service centers at U.S. franchised dealerships were busier in December than in November, according to the latest analysis of Xtime metrics. Both the Repair Order Volume Index and the Repair Order Revenue Index increased in December versus November. Repair order volume remains well below pre-pandemic levels, but revenue per repair set another record high. The … Continued
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 0.8% in the first 15 days of January compared to the month of December. This brought the Manheim Used Vehicle Value Index to 238.0, a 46.0% increase from January 2021. As was the case in each of the last three months, much … Continued
Total used-vehicle sales were down 4% year over year in December, according to Cox Automotive estimates. The estimated December used seasonally adjusted annual rate (SAAR) is 39.1 million, down from 40.6 million last December and flat compared to November’s revised 39.1 million SAAR. Used-Vehicle SAAR and Volume “Our used-vehicle sales estimates show slowing sales to … Continued
Following similar dynamics each month this fall and winter including another new record on average price paid and another low for incentives, new-vehicle affordability declined again in December. December’s affordability decline was again caused by most vehicle market factors moving against affordability while median income was static. The number of median weeks of income needed … Continued
Cox Automotive provides forecasts on the new and used vehicle markets as well as leasing, fleet and CPO sales and the Manheim Used Vehicle Value Index. The Industry Insights team reviews the forecasts quarterly and updates them as changes in the market dictate. The 2022 forecasts were presented during the Cox Automotive Industry Insights 2022 … Continued
New-vehicle inventory, particularly for domestic automakers, continued to climb, exceeding 1 million units near the end of December, according to a Cox Automotive analysis of vAuto Available Inventory data. Prices also kept rising, setting new records, with the average listing price exceeding $45,000. 1.098M Total Inventoryas of Dec. 20, 2021 35 Days’ Supply $45,505 Average … Continued
2021 certified pre-owned (CPO) sales nearly reached Cox Automotive’s forecast of 2.8 million, narrowly missing 2019’s record-breaking performance by only 2.2%. With 2,748,164 units sold in 2021, CPO sales outpaced 2020 with a 5.4% increase. “We lost ground in the last part of 2021, but we are forecasting a record in 2022,” said Cox Automotive Chief Economist … Continued
New-vehicle average transaction prices (ATPs) increased further into record territory in December 2021 to reach $47,077, according to new data released today by Kelley Blue Book. Prices are sharply elevated from last year, up nearly 14% ($5,742) from December 2020 and up 1.7% ($808) month over month. New-vehicle inventory levels remain tight, and with sufficient … Continued
Access to auto credit expanded slightly in December, according to the Dealertrack Credit Availability Index for all types of auto loans. The All Loans Index increased 0.3% to 101.6 in December, reflecting that auto credit was easier to get in the month compared to November. Access was looser by 6.9% year over year and compared to February 2020, access was looser by 2.4%. The index was last higher in April 2019. Not all loan types saw easing … Continued