Sales into large fleets, not including sales into dealer and manufacturer fleets, increased 27.7% year over year in March to 225,200 units, according to an early estimate from Cox Automotive. Combined sales into large rental, commercial, and government fleets have seen eight consecutive months of double-digit, year-over-year increases. Sales into rental fleets were up 46.0% … Continued
The latest Cox Automotive analysis of Xtime metrics shows that service activity decreased and service revenue increased month over month in February at U.S. franchised dealerships, as was the case in January. The Repair Order Revenue Index is up year over year, while the Repair Order Volume Index is down compared to February 2022. The monthly … Continued
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 1.8% from February in the first 15 days of March. The midmonth Manheim Used Vehicle Value Index rose to 238.6, which was down 2.1% from the full month of March 2022. The seasonal adjustment minimized the gains. The non-adjusted price change in the … Continued
The supply of used vehicles is lean as the spring selling season kicked off early and briskly this year, according to the Cox Automotive analysis of vAuto Available Inventory data. 2.07M Total UnsoldUsed Vehiclesas of Feb. 27, 2023 41 Days’ Supply $26,068 Average Listing Price 70,220 Average Mileage “Used-vehicle sales have been up significantly, causing … Continued
New-vehicle affordability improved again in February following modest improvement in January, according to the Cox Automotive/Moody’s Analytics Vehicle Affordability Index. All factors helped as declining new-vehicle prices, increasing incentives, improving incomes and slightly lower average new auto loan rate, as calculated by Moody’s Analytics, reduced the average monthly payment for a new vehicle to the lowest … Continued
Revised, April 13, 2023 – New-vehicle supply closed February higher than it ended January despite surprisingly strong sales, according to Cox Automotive’s analysis of vAuto Available Inventory data. The average listing price edged lower. 1.80M Total Inventoryas of Feb. 27, 2023 57 Days’ Supply $47,257 Average Listing Price The total U.S. supply of available unsold … Continued
After a strong January, certified pre-owned (CPO) sales in February rose another 1.9% month over month to finish at 205,946, up nearly 3,900 units. This total is up 7.3%, or over 14,000 units, compared to last February. February CPO Sales Used retail sales in February are estimated to be up 3.5% year over year finishing … Continued
Access to auto credit loosened modestly in February, according to the Dealertrack Credit Availability Index for all types of auto loans. The All-Loans Index increased 0.9% to 98.1 in February, reflecting that auto credit was easier to get in the month compared to January. Even with the increase in February, access was tighter by 4.4% … Continued
ATLANTA, March 8, 2023 – The average transaction price (ATP) of a new vehicle in the United States declined in February 2023 to $48,763, a decrease of 1.4% ($705) from an upwardly-revised January reading of $49,468. Transaction prices last month were up 5.3% ($2,466) from year-ago levels, according to data released today by Kelley Blue … Continued
Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) increased 4.3% in February from January. This was the largest increase for the full month of February since 2009’s 4.4% rise. The Manheim Used Vehicle Value Index (MUVVI) rose to 234.5, down 7.0% from a year ago. February’s increase was driven partially by the … Continued