Both service activity and service revenue decreased at U.S. franchised dealerships in June, according to the latest Cox Automotive analysis of Xtime metrics. The Repair Order Revenue Index decreased month over month in June after 11 months of increases and remains up year over year. Meanwhile, the Repair Order Volume Index decreased both month over … Continued
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 0.7% from June in the first 15 days of July. The Manheim Used Vehicle Value Index rose to 221.5, which was up 13.4% from July 2021. The non-adjusted price change in the first half of July was a decrease of 2.2% compared to … Continued
New-vehicle sales in Q2 were off by more than 20%, as tight inventory continues to hold back the market. High prices are certainly impacting some buyers, but the Industry Insights team at Cox Automotive continues to believe new-vehicle demand is relatively healthy and, with sufficient supply, sales volumes could be higher. At the end of … Continued
New-vehicle affordability declined again in June with increases in rates and prices reaching a new 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 June increased to 42.2 weeks from an upwardly revised 41.5 weeks in May. Supporting affordability, … Continued
In contrast to the new-vehicle market, the used-vehicle market is looking more normal with reasonably strong sales, decent inventory and prices that are high but have begun to inch down, according to the Cox Automotive analysis of vAuto Available Inventory data. 2.46M Total UnsoldUsed Vehiclesas of June 27 52 Days’ Supply $28,004 Average Listing Price … Continued
The average listing price for new vehicles rose throughout June but began to retreat by the end of the month, while inventory held relatively steady, according to Cox Automotive’s analysis of vAuto Available Inventory data. 1.12M Total Inventoryas of July 25, 2022 38 Days’ Supply $46,001 Average Listing Price The total U.S. supply of available … Continued
This much we know: New-vehicle sales in the second quarter struggled, up only modestly from the first quarter and down more than 20% from Q2 2021. The reasons are well documented – tight inventory, high prices, consumer sentiment dropping. There were a few positive notes in the Q2 sales numbers, and among them EV sales … Continued
Certified pre-owned (CPO) sales in June fell to 205,924 units, down 1% from May’s 208,423 unit sales and down nearly 17% from June 2021. So far in 2022, CPO sales peaked in April but have fallen in both May and June. June CPO Sales Leveraging a same-store set of dealerships selected to represent the country … Continued
The average price paid for a new vehicle in the U.S. in June was the highest on record and marked the first time the average transaction price (ATP) surpassed the $48,000 mark, according to new data released by Kelley Blue Book, a Cox Automotive company. The new-vehicle ATP increased to $48,043 in June 2022, according … Continued
Access to auto credit was little changed in June, according to the Dealertrack Credit Availability Index for all types of auto loans. The All Loans Index declined 0.1% to 105.2 in June, reflecting that auto credit was slightly harder to get in the month compared to May. The index has declined for two consecutive months, … Continued
