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Used-vehicle inventory, which had been rising modestly in recent weeks, accelerated more quickly to open the month of November, and the average listing price set a new record, according to a Cox Automotive analysis of vAuto Available Inventory data. As of Nov. 2, the total U.S. supply of unsold used vehicles stood at 2.56 million, … Continued
Given the current 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 for November and general information on segment performance for the first … Continued
Sales of certified pre-owned (CPO) vehicles increased 1% year over year in October and were up 4% month over month compared to September, reversing a negative trend of three consecutive months of decreasing sales. For October, 233,514 CPO units were sold. The CPO market has been one of the strongest performing segments within the auto … Continued
The worst of the new-vehicle inventory crunch appears to be over, according to a Cox Automotive analysis of vAuto Available Inventory data. Auto plants have ramped up and are re-filling the product pipeline, causing new-vehicle supply to vastly improve from the past several months. However, inventories remain well below year-ago levels. 2.67M Total Inventory 65 … Continued
Measured by sales, Nissan has had a pretty terrible year so far. Across their portfolio of cars, trucks and SUVs, there’s hardly a bright spot, and at the end of the third quarter, Nissan sales were off 37.6% year to date. Enough said. Companies can handle hard times in myriad ways. One option: Never waste … Continued
Struggling Nissan Motor reports financial results for Q2 FY 2021, the July-to-September quarter, on Thursday, Nov. 12, marking the midway point for its fiscal year that ends March 31, 2021. Nissan CEO Makoto Uchida hinted the quarter may be much better than the previous quarters. Still, the company is forecasting its biggest-ever operating loss of … Continued
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 0.47% month over month in October. This brought the Manheim Used Vehicle Value Index to 161.9, a 15.4% increase from a year ago. The non-seasonally adjusted (NSA) monthly change was -1.9%, which was more in line with what we have been seeing … Continued
Honda Motor Co. of Japan reports financial results for Q2 FY 2021, the July-to-September quarter, on Friday, Nov. 6, marking the midway point for its fiscal year that ends March 31, 2021. Honda swung to a loss in the previous quarter but should show signs of recovery in the just-closed quarter. Here are some data … Continued
As another data point to monitor the health of the automotive market, Cox Automotive calculates a 13-month rolling used-vehicle seasonally adjusted annual rate (SAAR). According to Cox Automotive estimates, total used vehicle sales volume was down 5% year over year in October. We estimate the October used SAAR to be 37.5 million, down from 39.6 … Continued
Month-over-month improvement continued in October with 132,560 total fleet volume sales up from 124,930 in September. Combined rental, commercial and government purchases of new vehicles were down 27%, or 49,649 units, year over year in October. Government units were up 8% year over year, on a small base, while rental units were down 43% year … Continued