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
ATLANTA, Nov. 13, 2023 – In October, with a UAW strike underway but new-vehicle inventories on the rise, the average price paid for a new vehicle in the U.S. was $47,936, less than 1% more than the month earlier (revised to $47,797), according to Kelley Blue Book, a Cox Automotive company. Compared to one year ago, when … Continued
Used-vehicle inventory volume at the start of November was slightly higher than in early October but days’ supply remained flat, according to the Cox Automotive analysis of vAuto Available Inventory data. 2.30M Total UnsoldUsed Vehiclesas of Nov. 6, 2023 49 Days’ Supply $26,533 Average Listing Price 69,971 Average Mileage The total supply of unsold … Continued
The Dealertrack Auto Credit Availability Index shows that access to auto credit improved in October for all types of auto loans. Credit access loosened across all channels and lender types this fall, continuing the trend that began in the summer. However, even though credit access improved, it was still tighter than a year ago and, … Continued
Despite UAW strikes at several plants throughout the month, new-vehicle inventory at the start of November was even higher than in early October, according to Cox Automotive’s analysis of vAuto Available Inventory data. The UAW and Detroit automakers have reached tentative contracts and settled the strike. Workers are back on the job as they vote … Continued
With the computer chip shortage easing since last year, American Honda Motor saw improved production and higher inventory. Better product availability has led to substantially higher U.S. sales of late and should help boost Honda Motor’s overall revenue when quarterly results are reported Nov. 9. Inventory on core models, in particular, improved significantly, prompting a … Continued
To echo remarks by Nissan’s U.S. sales chief regarding recent quarterly vehicle sales, what a difference inventory makes. Indeed, having much-improved inventory after last year’s computer chip shortage resulted in substantial sales increases for Nissan and Infiniti in the U.S. and should benefit Nissan Motor globally when quarterly financial results are posted on Nov. 9. … Continued
