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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 September and general information on segment performance for the first … Continued
Used-vehicle prices keep rising while the inventory of unsold used vehicles stabilizes and even slightly improves in contrast to new-vehicle inventory that is falling, according to a Cox Automotive analysis of vAuto Available Inventory data. As of the start of this week, the total U.S. supply of unsold used vehicles stood at 2.23 million, edging … Continued
Sales of certified pre-owned (CPO) vehicles decreased 9% year over year in August and were down 6% month over month compared to July. For August, 238,498 CPO units were sold. CPO sales were on the rise for the past two months. Reflecting huge decreases in March and April and the impact of COVID-19, CPO sales … Continued
The supply of new vehicles is in freefall as the inventory of unsold new vehicles fell again in August with luxury inventory plummeting, according to a Cox Automotive analysis of vAuto Available Inventory data. The total U.S. supply of unsold new vehicles stood at 2.26 million units as of Aug. 31, down from 2.33 million … Continued
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 3.64% month over month in August. This brought the Manheim Used Vehicle Value Index to 163.7, a 15.8% increase from a year ago and another record high for the Index. Access the full report. For 25 years, the MUVVI has been the … 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 4% year over year in August. We estimate the August used SAAR to be 38.0 million, down from 39.7 … Continued
General Motors and Honda have signed a memo of understanding to form a North American automotive alliance that could include sharing vehicle platforms and propulsion systems, including both electrified and gas ones, for a range of models sold by both brands. The two companies may also work together in purchasing, research and development and connected … Continued
The month-over-month improvement in fleet sales reversed in August with only 101,159 of total fleet volume, down from 104,769 in July and 206,652 in August 2019. Combined rental, commercial and government purchases of new vehicles were down 51% year over year in August. Government units were up 13.5% year over year, on a small base, … Continued
Cox Automotive is forecasting August sales will beat July, marking a fourth consecutive month of rising sales. In a bit of good news, many new-vehicle dealers in mid-August were indicating sales and service levels approaching something close to normal. The story in August, as it has been all summer, was about low inventory levels holding back a more … Continued
The Cox Automotive Industry Insights team has published another round of research on the evolving impact of COVID-19 on consumers and automobile dealers in the U.S. The report was released today. This ongoing research, which sheds light on consumer and dealer attitudes and behaviors during the pandemic, began in late March and continues to be … Continued