Strong December sales pulled down the new-vehicle inventory measure of days’ supply for the start of 2024, according to Cox Automotive’s analysis of vAuto Available Inventory data. While the sheer volume of new vehicles in inventory was higher at the end of December than at the start, the days of supply, which is based on … Continued
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 1.0% from December in the first 15 days of January. The midmonth Manheim Used Vehicle Value Index dropped to 201.9, which was down 10.2% from the full month of January 2023. The seasonal adjustment minimally added to the decline. The non-adjusted price change … Continued
Certified pre-owned (CPO) sales reached 228,237 in December, up 1.3% year over year, with an increase of nearly 3,000 units from December 2022. This represents a significant month-over-month increase, with CPO sales growing by 22,374 units or 10.9%. “Unlike overall December used sales, CPO delivered a great end-of-year gift,” said Chris Frey, senior manager of … Continued
Access to auto credit declined in December as credit tightened across most channels and across all lender types, according to the Dealertrack Auto Credit Availability Index. The All-Loans Index declined in November and dropped another 0.9% to 94.0 in December, reaching its lowest level since May and erasing improvements made in the summer and fall. … Continued
Starting in January 2024, Cox Automotive aligned its monthly used-vehicle sales reporting to vAuto used retail data. A monthly post will be published using vAuto Live Market Live data and can be found within the used-vehicle sales tag. According to Cox Automotive estimates based on vehicle registration data, total used-vehicle sales in December finished near … Continued
The affordability of new vehicles showed a modest decline in December compared to the previous month due to mixed trends. However, new-vehicle affordability improved year over year, according to the Cox Automotive/Moody’s Analytics Vehicle Affordability Index. “Due to an increase in average transaction prices, new-vehicle affordability worsened month over month in December,” said Cox Automotive … Continued
ATLANTA, Jan. 10, 2024 – The U.S. new-vehicle average transaction price in December 2023 was $48,759, an increase of 1.3% month over month but down 2.4% year over year, according to data released today from Kelley Blue Book, a Cox Automotive company. December marks the fourth consecutive month that new-vehicle transaction prices were lower year over … Continued
A record 1.2 million U.S. vehicle buyers chose to go electric last year, according to estimates from Kelley Blue Book, a Cox Automotive company. More specifically, 1,189,051 new electric vehicles (EVs) were put into service as the slow shift to an electrified future continued unabated. In 2023, the EV share of the total U.S. vehicle … Continued
Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) decreased 0.5% in December from November. The Manheim Used Vehicle Value Index (MUVVI) dropped to 204.0, down 7.0% from a year ago. Compared to December 2021, used-vehicle values are down nearly 21%. “December’s decline brought a volatile year to a close,” said Jeremy Robb, … Continued
In December, sales into large rental and government fleets increased compared to the previous year, with rental having a particularly strong month. Commercial sales decreased year over year but were up month over month. An analysis of Bobit’s data by Cox Automotive revealed that there was a 21.7% increase in sales to large fleets (excluding … Continued
