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
A recent analysis by Cox Automotive of Xtime metrics revealed that service activity increased again at franchised dealerships in the U.S. in June compared to the previous month. Meanwhile, service revenue decreased just slightly for the second month, off its previous record highs set in the spring. The Repair Order Volume Index is down year … Continued
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 1.0% from June in the first 15 days of July. The midmonth Manheim Used Vehicle Value Index dropped to 213.1, which was down 11.1% from the full month of July 2022. The seasonal adjustment mitigated the decline. The non-adjusted price change in the … Continued
Certified pre-owned (CPO) sales in June rose 8.4%, over 17,000 units, over last June to finish at 223,718. This total is up over 4,000 units, a nearly 2% increase from May’s number. CPO sales year to date remain up 6.4%, or over 78,000 units, compared to the first six months of 2022, which was a … Continued
New-vehicle affordability was unchanged in June, according to the Cox Automotive/Moody’s Analytics Vehicle Affordability Index. Strong income growth helped to offset higher prices and slightly higher rates. Higher prices and rates caused the typical payment to increase somewhat from May, which was the lowest payment since October. The number of median weeks of income needed … Continued
The used-vehicle market has shed the volatility seen during the pandemic and chip shortage, with inventory and prices holding rather steady, according to a Cox Automotive analysis of vAuto Available Inventory data. 2.22M Total UnsoldUsed Vehiclesas of June 26, 2023 47 Days’ Supply $27,147 Average Listing Price 71,431 Average Mileage The total supply of unsold … Continued
Updated, Aug. 10, 2023 – New-vehicle inventory and prices continued to stabilize in June while electric vehicle inventory climbed, closing the month with twice the days’ supply as new vehicles in total, according to Cox Automotive’s analysis of vAuto Available Inventory data. 1.98M Total Inventoryas of July 3, 2023 56 Days’ Supply $47,162 Average Listing … Continued
Nearly 300,000 new electric vehicles (EVs) – full battery-electric vehicles – were sold in the U.S. in Q2, a record for any quarter and an increase of 48.4% from Q2 2022. Tesla, again, was the largest seller of EVs in the U.S., with more than 175,000 sold, an increase of 34.8% quarter over quarter. Sales … Continued
