New-vehicle affordability improved slightly month over month and was again better year over year, according to the Cox Automotive/Moody’s Analytics Vehicle Affordability Index. “Trends in new-vehicle affordability factors mainly moved in favor of consumers in November to the best level of affordability in more than two years,” said Cox Automotive Chief Economist Jonathan Smoke. “Income … Continued
December opened with new-vehicle inventory at the highest level since early spring of 2021, according to Cox Automotive’s analysis of vAuto Available Inventory data. Supply surpassed 2.5 million units and 71 days’ supply for the first time in two years. 2.56M Total Inventoryas of Dec. 6, 2023 71 Days’ Supply $47,456 Average Listing Price Mounting … Continued
ATLANTA, Dec. 11, 2023 – The U.S. new-vehicle average transaction price in November 2023 was $48,247, an increase of less than 1% month over month and down year over year by 1.5%, according to data released today from Kelley Blue Book, a Cox Automotive company. November marks the third consecutive month that new-vehicle transaction prices were … Continued
According to the Dealertrack Auto Credit Availability Index for all types of auto loans, access to auto credit worsened in November. Following loosening across all channels and all lender types for most of the fall months, credit access is expected to tighten across all channels and most lender types, except for captives, as fall ends. … Continued
Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) decreased 2.1% in November from October. The Manheim Used Vehicle Value Index (MUVVI) dropped to 205.0, down 5.8% from a year ago. “While November’s decline was only slightly less than October’s, the move lower was on our radar, given the typical seasonal downward trend … Continued
In November, sales into large rental, commercial, and government fleets decreased compared to the previous year. An analysis of Bobit’s data by Cox Automotive revealed that there was an 8.9% drop in sales to large fleets (excluding dealer and manufacturer fleets) in November, with 146,685 units sold. In addition, sales to government fleets increased by … Continued
According to a recent analysis by Cox Automotive of Xtime metrics, service activity at franchised dealerships in the U.S. increased in October, following a dip in September. The Repair Order Volume Index decreased compared to the previous year, the Repair Order Revenue Index remained higher than in October 2022. “The October service metrics from Xtime … Continued
In October, certified pre-owned (CPO) sales experienced a slight decline, falling by less than 400 units from October 2022 to reach 207,189, a year-over-year decrease of 0.2%. However, this decrease is more pronounced compared to September, as month-over-month CPO sales were down by over 23,000 units, or 10.1%. One less selling day contributed to both … Continued
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 1.6% from October in the first 15 days of November. The midmonth Manheim Used Vehicle Value Index declined to 206.1, which was down 5.3% from the full month of November 2022. The seasonal adjustment reduced the decrease. The non-adjusted price change in the … Continued
Income growth favored consumers enough in October to offset the impact of higher prices, lower incentives, and higher auto loan rates. New-vehicle affordability improved slightly month over month and year over year, according to the Cox Automotive/Moody’s Analytics Vehicle Affordability Index. “In October, strong income growth and smaller financed amounts helped the consumer overcome negative … Continued