New-vehicle affordability declined slightly in February but remains a bit better than December. The inputs to the index moved in differing directions in the month. The number of median weeks of income needed to purchase the average new vehicle in February increased to 42.9 weeks from 42.8 weeks in January but remained below the record … Continued
Certified pre-owned (CPO) sales in February rose to 191,860 units. This total is up 15.3% from January’s 166,309, but down nearly 8.5% from February 2021. February’s CPO result is the highest since October 2021 and interrupts a six-month downward trend. CPO sales have been in decline since having strong sales in Q2 and Q3 of … Continued
New-vehicle average transaction prices (ATPs) decreased to $46,085 in February 2022 after reaching a record high in December 2021, according to new data released by Kelley Blue Book, a Cox Automotive company. Prices fell 0.5% ($253) month over month due to fewer luxury vehicles being sold in February, but prices remain elevated compared to one … Continued
Access to auto credit expanded in February according to the Dealertrack Credit Availability Index for all types of auto loans. The All Loans Index increased 1.9% to 104.0 in February, reflecting that auto credit was easier to get in the month compared to January. Access was looser by 8.6% year over year, and compared to … Continued
Our Kelley Blue Book team offers plenty of good advice for vehicle buyers; one of their most well-known features is the annual 5-year Cost to Own research. In that study, the team considers total vehicle-related costs an owner will likely have to cover during the first 5 years vehicle ownership. This includes out-of-pocket expenses like … Continued
Sales into large fleets increased 27% month over month in February to 124,507 units, the highest volume in the past seven months, but remained down year over year. Rental fleet sales volume remains extremely low while commercial and government both saw modest year-over-year gains last month. FEBRUARY 2022 FLEET SALES Combined sales into large rental, … Continued
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) declined 2.1% in February from January. The Manheim Used Vehicle Value Index declined to 231.3, which was a 36.7% increase from a year ago. The non-adjusted price change in February was a decline of 2.2% compared to January, leaving the unadjusted average price up … Continued
Service centers at U.S. franchised dealerships were less busy in January than in December, according to the latest analysis of Xtime metrics. The Repair Order Volume Index decreased month over month while the Repair Order Revenue Index increased. Repair order volume remains well below pre-pandemic levels, but revenue per repair set another record high. The … Continued
Revised March 17, 2022 – Used-vehicle inventory climbed during January to more normal levels on weaker sales, according to the Cox Automotive analysis of vAuto Available Inventory data. The average list price dipped from record levels in December. 2.55M Total UnsoldUsed Vehiclesas of January 31 55 Days’ Supply $27,606 Average Listing Price 71,117 Average Mileage … Continued
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) declined 1.5% in the first 15 days of February compared to the full month of January. This brought the Manheim Used Vehicle Value Index to 232.8, which was up 37.6% from February 2021. The non-adjusted price change in the first half of February was … Continued
