New-vehicle affordability declined in April, reversing some of the improvement in March, according to the Cox Automotive/Moody’s Analytics Vehicle Affordability Index. “The decline in affordability resulted from negative trends in pricing and incentives, as manufacturers and dealers were less aggressive on promotions and discounting than they were for the quarter end,” said Cox Automotive Chief … Continued
ATLANTA, May 14, 2024 – A downward slide in new-vehicle prices through the first quarter of 2024 reversed course in April, with average transaction prices (ATPs) increasing by 2.2% to $48,510, the highest prices since December 2023. The April price estimates were released today by Kelley Blue Book, a Cox Automotive brand. Year over year, new-vehicle … Continued
Access to auto credit declined slightly in April as credit tightened across new and certified pre-owned (CPO) channels and at banks and captives, according to the Dealertrack Credit Availability Index. The All-Loans Index declined to 93.8 in April, down 0.7% year over year. Credit access in April was tighter than a year ago in all … Continued
Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) were down in April compared to March. The Manheim Used Vehicle Value Index (MUVVI) fell to 198.4, a decline of 14.0% from a year ago. The seasonal adjustment to the index magnified the results for the month, resulting in a 2.3% month-over-month decrease. The … Continued
Used-vehicle inventory levels at the start of April were lower than in March, according to the Cox Automotive analysis of vAuto Live Market data, as healthy sales fueled by tax refunds drew supply down to the lowest level since the spring of 2023. 2.22M Total UnsoldUsed Vehiclesas of April 4, 2024 44 Days’ Supply … Continued
April opened with 72 days of new-vehicle supply across the industry, down seven days from the start of March, as higher volumes in recent weeks helped to keep inventory in check. According to Cox Automotive’s analysis of vAuto Live Market View, the total U.S. supply of available unsold new vehicles opened April at 2.77 million … Continued
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased by 1.9% from March during the first 15 days of April. The mid-month Manheim Used Vehicle Value Index dropped to 199.2, which was 13.7% lower than the full month of April 2023. The seasonal adjustment amplified the results. The non-adjusted price change in … Continued
According to vAuto Live Market View data estimates, retail used-vehicle sales in March increased from February and were up by 18.5% month over month. A total of 1.66 million used vehicles were sold at retail – from both franchised and independent dealers – during March, up 10.9% year over year and the highest volume since March … Continued
Trends in new-vehicle affordability factors moved in support of consumers again in March, according to the Cox Automotive/Moody’s Analytics Vehicle Affordability Index. “The positive moves were assisted by the first material decline in interest rates in over two years,” said Cox Automotive Chief Economist Jonathan Smoke. “However, given the move-up in rates so far in … Continued
ATLANTA, April 12, 2024 – New-vehicle transaction prices (ATP) in March 2024 held mostly steady, according to an analysis by Kelley Blue Book, down 1% from the revised February ATP. Last month, the average transaction price of a new vehicle in the U.S. was $47,218, down 1% from March 2023 and down 5.4% from the market … Continued
