Access to auto credit declined in January as credit tightened across all channels and across most lender types compared to December, according to the Dealertrack Credit Availability Index. The All-Loans Index declined to 93.0 in January, down 3% year over year. The Dealertrack Auto Credit Total Loan Index had shown some improvements during the summer … Continued
Strong U.S. sales in the waning months of 2023 should help lift Honda Motor Co.’s fortunes when it reports quarterly financial results February 8. In the quarter ended September 30, Honda Motor in Japan posted profits up by a third, prompting it to raise its forecast for the fiscal year that ends March 31. Much … Continued
Nissan Motor in Japan reports financial results for the October-to-December quarter February 8 and hopes to repeat the previous quarter’s performance, which featured a sharp 25% increase in profits on sales growth in most markets. The results exceeded analysts’ projections and prompted the Japanese automaker to raise its forecast for the full fiscal year that … Continued
Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) were unchanged in January compared to December. The Manheim Used Vehicle Value Index (MUVVI) remained at 204.0 but down 9.2% from a year ago. The index experienced the same 0.0% monthly change from December 2021 to January 2022. “With the volatility we saw last … Continued
Toyota Motor is expected to post a hefty increase in quarterly earnings and revenues when it reports financial results on Feb. 6, thanks to a rebound in production following the global computer chip shortage. The October to December 2023 period is the Japanese automaker’s third quarter of its fiscal year 2024, which ends March 31. … Continued
The impact of the six-week UAW strike against the Detroit automakers will be the focus of Ford’s fourth-quarter and full-year financial results when they are posted after the stock market closes on Tuesday, Feb. 6. The strike began late in the third quarter and continued well into October, so the fourth quarter saw the biggest … Continued
The financial damage from the six-week strike by the UAW against the three Detroit automakers will be the focus of upcoming earnings announcements, starting with General Motors. GM posts fourth-quarter and full-year financial results before the market opens on Tuesday, Jan. 30. Since the strike started late in the third quarter, the impact for that … Continued
Hyundai Motor Company had a record-setting 2023 for U.S. sales as a company and individually for each of its three brands – Hyundai, Kia and Genesis. The South Korean automaker, which posted fourth-quarter and full-year financial results Jan. 25, closed 2023 as the No. 4 automaker in the U.S. as measured by vehicle sales, surpassing … Continued
According to a recent analysis of Xtime metrics by Cox Automotive, service activity at franchised dealerships in the U.S. decreased in December, following a rise in November. The Repair Order Volume Index fell compared to December 2022, while the Repair Order Revenue Index remained higher year over year. “The December numbers are aligned with expectations … Continued
Used-vehicle inventory closed 2023 at the highest levels of the year, according to the Cox Automotive analysis of vAuto Available Inventory data. 2.39M Total UnsoldUsed Vehiclesas of Jan. 1, 2024 56 Days’ Supply $26,446 Average Listing Price 68,794 Average Mileage The total supply of unsold used vehicles on dealer lots – franchised and independent – … Continued
