Correction, Aug. 16, 2023 – ATLANTA, Aug. 9, 2023 – The average price Americans paid for a new vehicle in July 2023 was 0.4% higher than one year ago, the smallest year-over-year price increase in the last decade. According to Kelley Blue Book, a Cox Automotive company, the average transaction price (ATP) of a new … Continued
American Honda Motor, plagued with supply chain issues for most of 2022, is on the rebound with increased production and vehicle inventory on dealer lots leading to a significant leap in U.S. sales for the first quarter of its 2024 fiscal year. Honda raised incentives by 67% to $1,393 per vehicle, the first bump since … Continued
Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) decreased 1.6% in July from June. The Manheim Used Vehicle Value Index (MUVVI) declined to 211.7, down 11.6% from a year ago. “The July drop of 1.6% is an indicator of slowing wholesale price declines, at least when compared to the month-over-month losses we’ve … Continued
Sales into large fleets, not including sales into dealer and manufacturer fleets, increased 34.5% year over year in July to 171,464 units, according to an early estimate from Cox Automotive sources. July fleet volume rebounded to less than 2% below the pre-pandemic level seen in July 2019, a record year for fleet sales. “U.S. new-vehicle … Continued
Hyundai Motor Company, which includes the Hyundai, Kia and Genesis brands, had a stellar second quarter in the U.S. despite low inventories, particularly Kia. The automaker boosted incentives to over $1,000, while average transaction prices were up incrementally compared with a year ago. The U.S., where Hyundai Motor sells all three brands and Hyundai and … Continued
Toyota broke its U.S. sales slump in the most recently ended quarter but barely, as the Japanese automaker continued to have one of the lowest inventory levels in the industry, limiting sales. In Japan, Toyota Motor Corp. posts financial results Aug. 1 for the April-to-June quarter, the automaker’s first quarter of its 2024 fiscal year. … Continued
Ford is forecasted to post improved revenue and earnings when it reports second-quarter financial results after the stock market closes on Thursday, July 27. Wall Street analysts will be more concerned about future quarters than the most recent one after Ford recently slashed the price of its electric F-150 Lightning and lowered the Mustang Mach-E … Continued
Stellantis posts financial results before the stock market opens Wednesday, July 26. Unlike other automakers that report quarterly earnings, Stellantis provides an update every six months. As Cox Automotive’s Industry Insights team provided quarterly updates on sales, pricing and incentives for the largest automakers each quarter, we are including Stellantis’ numbers for the second quarter … Continued
The most recent quarter was another tumultuous one for Nissan Motor Corp., but in the important U.S. market, sales surged up from recent lows. That could help the Japanese automaker’s bottom line when financial results for the company’s first quarter (May-June) of its fiscal year 2023 are announced this week. In Japan, the abrupt departure … Continued
General Motors’ higher vehicle sales and strong ATPs are expected to produce improved financial results from a year ago, when the automaker reports second-quarter earnings before the stock market opens on Tuesday, July 25. Wall Street analysts have been upping their forecast for GM’s results throughout the second quarter and say they will not be … Continued
