Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) were higher in July compared to June. The Manheim Used Vehicle Value Index (MUVVI) rose to 201.6, a decline of 4.8% from a year ago. The seasonal adjustment to the index amplified the impact on the month, resulting in values that rose 2.8% month … Continued
New research released today by Cox Automotive shows that fleet owners operating both electric vehicles (EVs) and their traditional, fuel-burning counterparts have higher levels of satisfaction with their EVs. The Future of Fleets: Path to EV Adoption suggests that, compared to vehicles powered by internal-combustion engines (ICE), EVs bring higher scores among fleet owners in … Continued
Updated, Aug. 16, 2024 – According to the Cox Automotive analysis of vAuto Live Market View data, used-vehicle inventory levels at the start of July were lower than in June, as a widely used dealer management system (DMS) outage disrupted sales and inventory reporting. 2.21M Total UnsoldUsed Vehiclesas of July 8, 2024 55 Days’ Supply … Continued
Updated, Aug. 8, 2024 – In June, a cyber breach at a widely used dealer management system (DMS) supplier heavily impacted the automotive industry. This disruption clearly slowed sales and reporting in the second half of the month, pushing the new-vehicle days’ supply at the start of July to 120 days, according to Cox Automotive’s … Continued
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 1.8% from June in the first 15 days of July. The mid-month Manheim Used Vehicle Value Index increased to 199.7, down 5.7% from the full month of July 2023. The seasonal adjustment reduced the results for the month. The non-adjusted price change in … Continued
According to an analysis of Cox Automotive’s vAuto Live Market View data estimates, retail used-vehicle sales in June decreased from May, falling by 7.6% month over month. A total of 1.41 million used vehicles were sold at retail – from both franchised and independent dealers – during June, up 1.4% year over year. Days’ supply for June … Continued
In June, new-vehicle affordability experienced a slight decline, according to the Cox Automotive/Moody’s Analytics Vehicle Affordability Index. “Dealers and manufacturers became less aggressive with pricing due to widespread software disruptions,” said Cox Automotive Chief Economist Jonathan Smoke. “Despite this, consumers benefited from rising incomes and lower interest rates, keeping overall affordability better than last year.” … Continued
Electric vehicle sales in the U.S. grew by 11.3% year over year in the second quarter, reaching a record-high volume of 330,4631 units, according to new estimates from Kelley Blue Book. This growth was driven partly by improved availability, higher discounts and elevated levels of leasing. Total EV sales last quarter were higher than Q1 … Continued
ATLANTA, July 10, 2024 – New-vehicle prices remain steady, as average transaction prices in June were mostly unchanged from May and one year ago. In June, according to data released today by Kelley Blue Book, the average transaction price (ATP) for a new vehicle in the U.S. was $48,644. The June ATP was higher by $266 … Continued
Access to auto credit declined again in June as credit tightened across all channels and all lender types, according to the Dealertrack Credit Availability Index. The All-Loans Index was 93.9 in June, down 0.8 from a downwardly revised May reading and down 0.5% year over year. Dealertrack Credit Availability Index1 Auto loan access worsened slightly … Continued