The national average gas price for a gallon of gas is still high at the beginning of April, down 6 cents to $4.17 per gallon on April 10 compared with a week earlier. President Biden’s decision to release oil from the strategic reserves coupled with this week’s waiver allowing the use of ethanol this summer … Continued
Revised May 18, 2022 – The supply of fuel-efficient models, like hybrids, small crossovers and small-to-midsize cars, was the lowest of all segments in March as gas prices soared, according to a Cox Automotive analysis of vAuto Available Inventory data. At the same time, overall new-vehicle inventory edged slightly higher while prices slipped again, staying … Continued
New-vehicle average transaction prices (ATPs) decreased to $45,927 in March 2022 after reaching a record high in December 2021, according to new data released by Kelley Blue Book, a Cox Automotive company. Prices fell 0.3% ($156) month over month, but remain elevated compared to one year ago, up 12.9% ($5,247) from March 2021. New-vehicle inventory … Continued
Access to auto credit expanded again in March according to the Dealertrack Credit Availability Index for all types of auto loans. The All Loans Index increased 1.3% to 104.5 in March, reflecting that auto credit was easier to get in the month compared to February. Access was looser by 6.6% year over year, and compared … Continued
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) declined 3.3% in March from February. The Manheim Used Vehicle Value Index declined to 223.5, which was up 24.8% from a year ago. The non-adjusted price change in March was an increase of 0.6% compared to February, leaving the unadjusted average price up 23.2% … Continued
Sales into large fleets decreased nearly 4% month over month in March to 176,322 units, after an improvement in February, and remained down more than 11% year over year. Rental fleet sales volume remains low and sales into government fleets saw a modest decline. Meanwhile, sales into commercial fleets in March saw an impressive gain … Continued
Consumers are pessimistic about today’s automotive market that has been hobbled by inventory shortages due to the global computer chip shortage that has, in turn, led to high vehicle prices, according to the most recent survey by Cox Automotive. Cox Automotive has been tracking consumer behavior and attitudes regarding the chip shortage and its consequences … Continued
The national average price for a gallon of gas moved above $4.00 and into record territory in early March, and American drivers – and media – took notice. Higher fuel costs are already adding to inflation woes, leading state and national leaders to call for “gas tax holidays” and potentially more stimulus to offset the … Continued
U.S. franchised dealerships continued to earn more service revenue on fewer tickets in February, according to the latest Cox Automotive analysis of Xtime metrics. The Repair Order Revenue Index increased in February for the eighth consecutive month with the revenue per service ticket averaging $501, a record high. The Repair Order Volume Index decreased month … Continued
Revised April 14, 2022 – Tax refunds finally are arriving, ushering in the traditional spring bounce for used-vehicle sales, according to the Cox Automotive analysis of vAuto Available Inventory data. Sales of used vehicles, while still pricey, started to heat up the last week of February. 2.62M Total UnsoldUsed Vehiclesas of March 1 54 Days’ … Continued