Sales into large fleets, not including sales into dealer and manufacturer fleets, increased 48% year over year in February to 183,954 units, according to an early estimate from Cox Automotive. New-vehicle inventory is vastly better than year-ago levels, enabling automakers to be more aggressive with fleet sales. Combined sales into large rental, commercial, and government … Continued
Shopping for electrified vehicles, which includes both hybrids and EVs, has stabilized, with almost 25% of new-vehicle shoppers considering an electrified model, according to the latest Kelley Blue Book Brand Watch™ report. However, when it comes to the specific type of electrified vehicle, hybrids seem to be more popular, with 18% of electrified shoppers considering … Continued
For many current car shoppers, new-vehicle prices are about as enjoyable as a sharp stick in the eye. All the reasons are well documented – supply disruptions, low inventory, new technology, higher interest rates, and automakers focused on high-earning buyers. With the average manufacturer’s suggested retail price (MSRP) now close to $50,000, finding big-ticket items … Continued
The latest Cox Automotive analysis of Xtime metrics shows that service activity decreased and service revenue increased month over month at U.S. franchised dealerships in January. The Repair Order Revenue Index and the Repair Order Volume Index were both up compared to January 2022. The monthly Xtime volume and revenue metrics are designed to showcase … Continued
Stellantis has steered skillfully through the global computer chip shortage, maintaining the most abundant vehicle inventory in the U.S. auto industry for the past year while other automakers struggled with skimpy supply. Still, Stellantis posted a decline in U.S. sales in the fourth quarter while also cutting incentives. Its average transaction price rose to over … Continued
The supply of used vehicles is lean as the spring selling season seems to be kicking off early this year, according to the Cox Automotive analysis of vAuto Available Inventory data. 2.21M Total UnsoldUsed Vehiclesas of Jan. 23, 2023 48 Days’ Supply $26,510 Average Listing Price 68,994 Average Mileage The total supply of unsold used … Continued
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 4.1% from January in the first 15 days of February. This was the largest February increase since 2009’s full-month 4.4% gain. The mid-month Manheim Used Vehicle Value Index rose to 234.0, which was down 7.3% from the full month of February 2022. The … Continued
Revised, March 16, 2023 – New-vehicle inventory edged lower in January from December but remained significantly higher than a year ago, according to Cox Automotive’s analysis of vAuto Available Inventory data. 1.75M Total Inventoryas of Jan. 23, 2023 58 Days’ Supply $47,521 Average Listing Price The total U.S. supply of available unsold new vehicles stood … Continued
New-vehicle affordability improved for the first time in 6 months in January, according to the Cox Automotive/Moody’s Analytics Vehicle Affordability Index. Declining new-vehicle prices, increasing incentives and improving incomes offset challenges from auto loan rates reaching a new 20-year high. The number of median weeks of income needed to purchase the average new vehicle in January … Continued
Certified pre-owned (CPO) sales in January rose 21.5%, nearly 36,000 units, over last January to finish at 202,074. This total is down month over month by over 23,000 units, or down 10%, compared to December 2022. January CPO sales typically show a decline month over month. January CPO Sales Used retail sales in January are … Continued