Sales into large fleets, not including sales into dealer and manufacturer fleets, increased 44.6% year over year in June to 217,572 units, according to an early estimate from Cox Automotive. “The return of fleet was a key driver of the first half new auto sales increase,” said Cox Automotive Senior Economist Charlie Chesbrough. “With production levels … Continued
A recent analysis by Cox Automotive of Xtime metrics revealed that service activity increased notably at franchised dealerships in the U.S. in May compared to the previous month. Meanwhile, service revenue decreased just slightly from its previous record highs in March and April. Both the Repair Order Volume Index and the Repair Order Revenue Index … Continued
Certified pre-owned (CPO) sales in May rose 5.4%, over 11,000 units, from last May to finish at 219,633. This total is up nearly 5,000 units, a 2.3% increase from April’s number. CPO sales year to date remain up 6.0%, or 61,000 units, compared to the first five months of 2022, which was a rough year … Continued
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 3.2% from May in the first 15 days of June. The midmonth Manheim Used Vehicle Value Index dropped to 217.3, which was down 9.4% from the full month of June 2022. The seasonal adjustment contributed to some of the decline. The non-adjusted price … Continued
Revised, July 14, 2023 – The inventory and days of supply of used vehicles edged higher at the end of May from April, and the average listing price climbed past the $27,000 mark, according to the Cox Automotive analysis of vAuto Available Inventory data. 2.20M Total UnsoldUsed Vehiclesas of May 29, 2023 49 Days’ Supply … Continued
Revised, July 13, 2023 – New-vehicle inventory in May reached its highest level in two years, according to Cox Automotive’s analysis of vAuto Available Inventory data, with a notable increase from the previous month. Days of supply increased due to a slight weakening in sales toward month-end. Despite a decline in the average listing price, … Continued
New-vehicle affordability improved slightly again in May. Strong income growth helped to offset modestly higher prices and slightly higher rates. Higher prices and rates caused the typical payment to increase slightly from what had been the lowest payment in April since October. The number of median weeks of income needed to purchase the average new … Continued
ATLANTA, June 12, 2023 – The average price Americans paid for a new vehicle in May remained below the manufacturer’s suggested retail price (MSRP) for the fifth consecutive month, according to data released today by Kelley Blue Book, a Cox Automotive company. The average transaction price (ATP) of a new vehicle in the U.S. increased … Continued
Access to auto credit tightened again in May, according to the Dealertrack Credit Availability Index for all types of auto loans. Following tightening across all channels and all lender types in April, credit availability declined again in May in most channels. The All-Loans Index fell 0.4% to 96.4 in May, the lowest reading since February … Continued
Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) decreased 2.7% in May from April. The Manheim Used Vehicle Value Index (MUVVI) declined to 224.5, down 7.6% from a year ago. “Price erosion continued in May, with another month-over-month drop in the index bringing it 0.3 points below our January result,” said Chris … Continued