Inventory. Pricing. Microchips. Used-vehicle values. This past year had plenty of headlines – hot topics that shifted the industry dynamic. But arguably, maybe 2021 was not so different than any year for our car business. In an industry as large and complex as the auto industry, what’s normal anymore? In 2020, we had the onset … Continued
A general shortage of new-vehicle inventory has been the auto industry’s leading story of 2021. Tight inventory shifted the dynamics, turning the buyer’s market of 2019 into an unprecedented seller’s market in 2021. Average transaction prices (ATPs) for new vehicles increased month after month in 2021, according to an analysis from our Kelley Blue Book … Continued
Service centers at U.S. franchised dealerships were less busy in November than in October, according to the latest analysis of Xtime metrics. The Repair Order Volume Index decreased in November while the Repair Order Revenue Index increased slightly in November versus October. Repair order volume remains well below pre-pandemic levels, but revenue per repair set … Continued
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 3.1% in the first 15 days of December compared to the month of November. This brought the Manheim Used Vehicle Value Index to 239.8, a 48.9% increase from December 2020. As was the case in October and November, much of the monthly … Continued
Used-vehicle inventory inched slightly higher in November as the average listing price climbed past $27,000 for the first time, according to the Cox Automotive analysis of vAuto Available Inventory data. 2.31M Total UnsoldUsed Vehiclesend of November 44 Days’ Supply $27,569 Average Listing Price 68,482 Average Mileage The total supply of unsold used vehicles on dealer … Continued
Revised Jan. 14, 2022 – The new-vehicle supply rose to nearly 1 million units at the end of November, a level not seen since early August, according to a Cox Automotive analysis of vAuto Available Inventory data. The average listing price surpassed $45,000 in November for the first time ever. 935,100 Total Inventoryas of Nov. … Continued
Following similar dynamics each month this fall including another new record on the average price paid and another low for incentives, new-vehicle affordability declined again in November. November’s affordability decline was caused by all vehicle market factors moving against affordability while median income again declined, albeit slightly. The number of median weeks of income needed … Continued
Certified pre-owned (CPO) sales fell to 181,079 units in November. This sales level reflects a 17% month-over-month decrease and a 3% year-over-year decrease. November CPO sales slowed for the second consecutive month, following a strong performance during the first three quarters of the year. CPO SALES With 2,561,416 units sold through November, year-to-date CPO sales are … Continued
Access to auto credit expanded again in November, according to the Dealertrack Auto Credit Availability Index for all types of auto loans. The All Loans Index increased 0.8% to 101.3 in November, reflecting that auto credit was easier to get in the month compared to October. Access was looser by 6.9% year over year and compared to February 2020, access was looser by 2.1%. The index was last higher in April … Continued
New-vehicle prices increased further into record territory in November, including a modest increase from the month prior. According to new data released today by Kelley Blue Book, average transaction prices (ATPs) are sharply elevated from last year, up more than 13% from November 2020. New-vehicle inventory levels remain tight, and with sufficient consumer demand, dealers have … Continued
