Access to auto credit tightened in May, according to the Dealertrack Credit Availability Index for all types of auto loans. The All Loans Index declined 0.8% to 105.4 in May, reflecting that auto credit was harder to get in the month compared to April. Access was looser by 7.9% year over year, and compared to … Continued
New-vehicle average transaction prices (ATPs) increased to $47,148 in May 2022, according to new data released by Kelley Blue Book, a Cox Automotive company. Prices rose 1% ($472) month over month and remain elevated compared to one year ago, up 13.5% ($5,613) from May 2021. The average price paid for a new vehicle in the … Continued
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 0.7% in May from April. The Manheim Used Vehicle Value Index rose to 222.7, up 9.7% from a year ago. The non-adjusted price change in May increased 1.1% compared to April, leaving the unadjusted average price up 12.1% year over year. In May, … Continued
Sales into large fleets, not including sales into dealer and manufacturer fleets, decreased 8.7% month over month in May to 141,047 units, according to an early estimate from Cox Automotive. May 2022 Fleet Sales Combined sales into large rental, commercial, and government fleets decreased 16.1% from May 2021. Sales into government fleets were up 5.9% … Continued
Gas prices hit an all-time high of a national average of $4.67 on June 1, driving consumers to consider electric vehicles, hybrids and smaller, more fuel-efficient gas-powered models. According to a Cox Automotive analysis of shopping behavior on its Kelley Blue Book and Autotrader websites: Shopping for EVs soared 73% since January before gas prices … Continued
Service revenue increased at U.S. franchised dealerships in April on fewer repair order tickets, according to the latest Cox Automotive analysis of Xtime metrics. The Repair Order Volume Index decreased month over month in April. Meanwhile, the Repair Order Revenue Index increased month over month to the highest level for the index, dating back to … Continued
Revised, June 16, 2022 – A spring sales bounce that has been late coming and more spread out than expected has now led to used-vehicle supply holding largely steady in April, according to the Cox Automotive analysis of vAuto Available Inventory data. The average retail list price, however, resumed its upward trajectory, surpassing the $28,000 … Continued
Revised, June 16, 2022 – New-vehicle inventory barely budged in April due to continued supply chain disruptions, according to a Cox Automotive analysis of vAuto Available Inventory data. Inventory of imports and small, fuel-efficient models were among the lowest due to strong demand driven in part by rising gas prices. Prices in April rose as … Continued
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 0.7% in the first 15 days of May compared to the full month of April. This brought the Manheim Used Vehicle Value Index to 222.7, which was up 9.7% from May 2021. The non-adjusted price change in the first half of May was … Continued
New-vehicle affordability declined slightly in April despite revised data indicating stronger income gains, according to the latest Cox Automotive/Moody’s Analytics Vehicle Affordability Index. The inputs to the index again moved in differing directions in the month. The number of median weeks of income needed to purchase the average new vehicle in April increased to 40.6 … Continued