The impact of the six-week UAW strike against the Detroit automakers will be the focus of Ford’s fourth-quarter and full-year financial results when they are posted after the stock market closes on Tuesday, Feb. 6. The strike began late in the third quarter and continued well into October, so the fourth quarter saw the biggest … Continued
The financial damage from the six-week strike by the UAW against the three Detroit automakers will be the focus of upcoming earnings announcements, starting with General Motors. GM posts fourth-quarter and full-year financial results before the market opens on Tuesday, Jan. 30. Since the strike started late in the third quarter, the impact for that … Continued
Hyundai Motor Company had a record-setting 2023 for U.S. sales as a company and individually for each of its three brands – Hyundai, Kia and Genesis. The South Korean automaker, which posted fourth-quarter and full-year financial results Jan. 25, closed 2023 as the No. 4 automaker in the U.S. as measured by vehicle sales, surpassing … Continued
According to a recent analysis of Xtime metrics by Cox Automotive, service activity at franchised dealerships in the U.S. decreased in December, following a rise in November. The Repair Order Volume Index fell compared to December 2022, while the Repair Order Revenue Index remained higher year over year. “The December numbers are aligned with expectations … Continued
Used-vehicle inventory closed 2023 at the highest levels of the year, according to the Cox Automotive analysis of vAuto Available Inventory data. 2.39M Total UnsoldUsed Vehiclesas of Jan. 1, 2024 56 Days’ Supply $26,446 Average Listing Price 68,794 Average Mileage The total supply of unsold used vehicles on dealer lots – franchised and independent – … Continued
Strong December sales pulled down the new-vehicle inventory measure of days’ supply for the start of 2024, according to Cox Automotive’s analysis of vAuto Available Inventory data. While the sheer volume of new vehicles in inventory was higher at the end of December than at the start, the days of supply, which is based on … Continued
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 1.0% from December in the first 15 days of January. The midmonth Manheim Used Vehicle Value Index dropped to 201.9, which was down 10.2% from the full month of January 2023. The seasonal adjustment minimally added to the decline. The non-adjusted price change … Continued
Certified pre-owned (CPO) sales reached 228,237 in December, up 1.3% year over year, with an increase of nearly 3,000 units from December 2022. This represents a significant month-over-month increase, with CPO sales growing by 22,374 units or 10.9%. “Unlike overall December used sales, CPO delivered a great end-of-year gift,” said Chris Frey, senior manager of … Continued
Access to auto credit declined in December as credit tightened across most channels and across all lender types, according to the Dealertrack Auto Credit Availability Index. The All-Loans Index declined in November and dropped another 0.9% to 94.0 in December, reaching its lowest level since May and erasing improvements made in the summer and fall. … Continued
Starting in January 2024, Cox Automotive aligned its monthly used-vehicle sales reporting to vAuto used retail data. A monthly post will be published using vAuto Live Market Live data and can be found within the used-vehicle sales tag. According to Cox Automotive estimates based on vehicle registration data, total used-vehicle sales in December finished near … Continued