Sales into large fleets, not including sales into dealer and manufacturer fleets, increased 37.2% year over year in May to 228,342 units, according to an early estimate from Cox Automotive. “May fleet sales had another strong month of gains over last year with rental, government and commercial all rising,” said Cox Automotive Senior economist Charlie … Continued
Despite the massive attention on electric vehicles and new tax credits for them, hybrid vehicles continue to be more popular among vehicle shoppers, according to the Kelley Blue Book Brand Watch™ report for the first quarter of 2023. The Kelley Blue Book Brand Watch report is a consumer perception survey that also weaves in shopping … Continued
A recent analysis by Cox Automotive of Xtime metrics revealed that service activity and revenue at franchised dealerships in the U.S. decreased in April compared to the previous month. However, the Repair Order Revenue Index has increased compared to last year and reached a record high in March, while the Repair Order Volume Index has … Continued
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 2.1% from April in the first 15 days of May. The midmonth Manheim Used Vehicle Value Index dropped to 225.9, which was down 7.0% from the full month of May 2022. The seasonal adjustment contributed to the decline. The non-adjusted price change in … Continued
Certified pre-owned (CPO) sales in April fell more year over year than the overall used retail market. CPO sales decreased 4.2%, or over 9,000 units, from April 2022 to finish at 214,684. This total is down nearly 15,000 units, a 6% drop from March’s number. Year-to-date CPO sales remain up 6% compared to 2022. “April … Continued
New-vehicle affordability improved slightly in April and contributed to improving new-vehicle sales, according to the Cox Automotive/Moody’s Analytics Vehicle Affordability Index. Most factors helped as declining new-vehicle prices, increasing incentives and improving incomes offset a small increase in the average new auto loan rate. The typical monthly payment declined to the lowest level since October … Continued
The inventory of used vehicles edged higher at the end of April compared to March as the spring selling came to a close and sales slowed. However, supply remains below year-ago levels, according to the Cox Automotive analysis of vAuto Available Inventory data, and days of supply have slipped. Meanwhile, the average listing price climbed … Continued
Updated, June 15, 2023 – New-vehicle inventory closed April up from a month earlier to its highest level in two years, supporting surprisingly brisk sales, according to Cox Automotive’s analysis of vAuto Available Inventory data. Meanwhile, days of supply dipped on higher sales. The average listing price of a new vehicle returned to above $47,000 … Continued
Access to auto credit tightened in April, according to the Dealertrack Credit Availability Index for all types of auto loans. Following varied moves in vehicle channels and by lender in March, credit access tightened across all channels and all lender types in April. The All-Loans Index declined 1.5% to 96.8 in April, the lowest reading … Continued
ATLANTA, May 9, 2023 – The average price Americans paid for a new vehicle in April remained below the manufacturer’s suggested retail price (MSRP) for the second 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. remained … Continued