Service activity and service revenue decreased slightly at U.S. franchised dealerships in November, according to the latest Cox Automotive analysis of Xtime metrics. Both the Repair Order Revenue Index and Repair Order Volume Index decreased slightly month over month, but the revenue metric remains up year over year. The monthly Xtime volume and revenue metrics … Continued
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 1.6% from November in the first 15 days of December. The mid-month Manheim Used Vehicle Value Index rose to 202.6, down 14.2% from the full month of December 2021. The non-adjusted price change in the first half of December was a decline of … Continued
Revised, Jan. 13, 2023 – Used-vehicle asking prices fell again through the month of November to their lowest average since last spring as inventory stabilized and sales fell, according to the Cox Automotive analysis of vAuto Available Inventory data. 2.33M Total UnsoldUsed Vehiclesas of Nov. 28, 2022 54 Days’ Supply $27,156 Average Listing Price 69,916 … Continued
New-vehicle affordability declined again in November as auto loan rates reached another 20-year high, and the average new-vehicle price increased and set a record, according to the Cox Automotive/Moody’s Analytics Vehicle Affordability Index. The number of median weeks of income needed to purchase the average new vehicle in November increased to 43.3 weeks from 42.8 … Continued
Revised, Jan. 12, 2023 – New-vehicle inventory volume continued to climb through November as production increased and sales slowed, according to Cox Automotive’s analysis of vAuto Available Inventory data. Unfortunately for shoppers, prices climbed in November as well. “Timing is everything,” said Charlie Chesbrough, Cox Automotive’s senior economist. “Production is finally ramping up after being … Continued
Certified pre-owned (CPO) sales in November fell 4.4%, just over 9,000 units, from October to finish at 198,313. However, this total is up more than 17,000 units from November 2021. Year to date, CPO sales are down over 318,000 units, or 12.4%, compared to the same time last year. Cox Automotive expects CPO sales to … Continued
ATLANTA, Dec. 12, 2022 – New-vehicle inventory levels are improving, but prices remain elevated. According to data released today by Kelley Blue Book, a Cox Automotive company, the average transaction price (ATP) for a new vehicle in the United States in November 2022 hit a record high of $48,681. November prices rose 0.9% ($422) month … Continued
Access to auto credit tightened sharply in November, according to the Dealertrack Credit Availability Index for all types of auto loans. The All-Loans Index declined 2.6% to 101.2 in November, reflecting that auto credit was harder to get in the month compared to October. The decline in access reflected conditions that were tightest since October … Continued
Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) decreased 0.3% in November from October. The Manheim Used Vehicle Value Index (MUVVI) declined to 199.4, down 14.2% from a year ago. This is the first time the MUVVI has dropped below 200.0 since August 2021. The non-adjusted price change in November was a … Continued
Sales into large fleets, not including sales into dealer and manufacturer fleets, increased 8.2% month over month in November to 160,989 units, according to an early estimate from Cox Automotive. Combined sales into large rental, commercial, and government fleets were up nearly 55% year over year in November, the fifth consecutive month of double-digit, year-over-year … Continued
