Service activity and revenue at U.S. franchised dealerships moved in opposite directions in September, according to the latest Cox Automotive analysis of Xtime metrics. The Repair Order Volume Index declined modestly, while the Repair Order Revenue Index increased to a record high. The monthly Xtime volume and revenue metrics are designed to showcase average service … Continued
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) declined 2.0% from September in the first 15 days of October. The Manheim Used Vehicle Value Index fell to 200.5, which was down 10.3% from October 2021. The non-adjusted price change in the first half of October was a decline of 1.8% compared to … Continued
New-vehicle affordability declined again in September, with auto loan rates reaching a 15-year high even though prices declined slightly. The number of median weeks of income needed to purchase the average new vehicle in September increased to 42.2 weeks from a downwardly revised 42.1 weeks in August. Cox Automotive/Moody’s Analytics Vehicle Affordability Index September 2022 … Continued
New-vehicle sales in the U.S. were remarkably stable through the third quarter of 2022. Sales volumes in July came in at 1.14 million units and followed in August at 1.14 million. September sales dropped a bit, to 1.12 million. In fact, the Q3 average of 1.13 million sales a month was aligned with the market … Continued
Revised, Nov. 17, 2022 – Used-vehicle inventory and asking prices are stabilizing, according to the Cox Automotive analysis of vAuto Available Inventory data. Used supply held steady in September from August and is higher than a year ago. Growth in listing prices is slowing. 2.46M Total UnsoldUsed Vehiclesas of Sept. 26, 2022 53 Days’ Supply … Continued
Revised, Nov. 17, 2022 – New-vehicle inventory closed September at its highest level since early June 2021, and the average listing price for new vehicles fell to the lowest point in two months, according to Cox Automotive’s analysis of vAuto Available Inventory data. Still, supply remains well below historical norms, and prices are still far … Continued
The average price paid for a new vehicle in the United States in September 2022 was down from August’s record but remains solidly above the $48,000 mark, according to new data released today by Kelley Blue Book, a Cox Automotive company. The Kelley Blue Book new-vehicle average transaction price (ATP) decreased to $48,094 in September, … Continued
Certified pre-owned (CPO) sales in September fell nearly 5%, just under 10,000 units, from August to finish at 201,707. This total is down over 26,000 units from last year and is the lowest monthly total since February of this year. 2022 CPO sales are down 15% year to date. September CPO Sales Leveraging a same-store … Continued
Access to auto credit expanded for the first time in five months in September, according to the Dealertrack Credit Availability Index for all types of auto loans. The All-Loans Index increased 1.1% to 103.7 in September, reflecting that auto credit was easier to get in the month compared to August. The improved access meant conditions … Continued
Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) decreased 3.0% in September from August. The Manheim Used Vehicle Value Index declined to 204.5 and is now down 0.1% from a year ago. The non-adjusted price change in September was a decline of 2.1% compared to August, moving the unadjusted average price down … Continued
