Sales into large fleets, not including sales into dealer and manufacturer fleets, increased 0.8% month over month in August to 128,464 units, according to an early estimate from Cox Automotive. August 2022 Fleet Sales Combined sales into large rental, commercial, and government fleets were up 14.6% year over year in August. Sales into rental were down … Continued
High gas prices caused truck and SUV shoppers to consider downsizing to smaller, more fuel-efficient versions of trucks and SUVs, according to a Cox Automotive analysis of consumer shopping data on Kelley Blue Book. Large truck shoppers also considered electric trucks. Midsize SUV intenders added hybrid versions to their shopping lists. Top 10 Growth Segments: … Continued
Both service activity and service revenue at U.S. franchised dealerships decreased in July, according to the latest Cox Automotive analysis of Xtime metrics. The Repair Order Revenue Index decreased month over month again in July but remains up year over year. Meanwhile, the Repair Order Volume Index remained down both month over month and year … Continued
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) declined 3.6% from July in the first 15 days of August. The Manheim Used Vehicle Value Index fell to 211.6, which was up 8.8% from August 2021. The non-adjusted price change in the first half of August was a decline of 2.0% compared to … Continued
New-vehicle affordability declined slightly again in July with increases in interest rates and new-vehicle prices reaching a record high, 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 July increased to 42.2 weeks from a downwardly revised 42.0 weeks in … Continued
Revised, Sept. 15, 2022 – Used-vehicle inventory held steady from June to July, while sales – and prices – registered an uptick by month’s end, according to the Cox Automotive analysis of vAuto Available Inventory data. 2.46M Total UnsoldUsed Vehiclesas of July 25, 2022 52 Days’ Supply $28,205 Average Listing Price 69,443 Average Mileage The … Continued
Certified pre-owned (CPO) sales in July fell to 206,346 units, a level nearly equal to June’s volume of 206,443 and down 17% from July 2021. Since May, CPO sales have been remarkably stable. Sales of CPO are down nearly 17% year to date. Currently, they are on track to finish near 2.4 million in 2022. Using … Continued
Access to auto credit declined across the board in July according to the Dealertrack Auto Credit Availability Index for all types of auto loans. The All-Loans Index declined 1.8% to 103.3 in July, reflecting that auto credit was harder to get in the month compared to June. The index has declined for three consecutive months, … Continued
Revised, Sept. 15, 2022 – New-vehicle inventory at the end of July was higher than it was a year ago, when the global computer chip shortage began hurting production, but supply remains low compared with pre-pandemic times, according to Cox Automotive’s analysis of vAuto Available Inventory data. 1.09M Total Inventoryas of July 25, 2022 37 … Continued
The average price paid for a new vehicle in the U.S. in July topped June’s record and kept the average transaction price (ATP) solidly above the $48,000 mark, according to new data released today by Kelley Blue Book, a Cox Automotive brand. The Kelley Blue Book new-vehicle ATP increased to $48,182 in July 2022, beating … Continued
