Certified pre-owned (CPO) sales reached 228,118 units in September. This sales level reflects a 2% month-over-month increase and a 1% year-over-year increase when CPO sales continued their strong performance in September 2020 as an important part of the used-vehicle market recovery. CPO Sales With 2,163,380 units sold through September, year-to-date CPO sales are up 11% compared … Continued
Access to auto credit expanded slightly in September according to the Dealertrack Credit Availability Index for all types of auto loans. The All Loans Index increased 0.4% to 98.9 in September, reflecting that auto credit was slightly easier to get in the month compared to August. Access was looser by 5.5% year over year, but compared to February 2020, access was tighter by 0.3%. All loan types saw modest easing in September. Franchise Used … Continued
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 5.3% month-over-month in September. This brought the Manheim Used Vehicle Value Index to 204.8, a 27.1% increase from a year ago. MANHEIM USED VEHICLE VALUE INDEX September 2021 Manheim Market Report (MMR) values saw accelerating weekly increases throughout September. Over the full … Continued
In September, 98,415 total fleet units were sold, a 12% month-over-month decrease compared to 112,069 in August and a 21% decrease from September 2020 which recorded 124,930 units. This brings the 2021 year-to-date total combined large rental, commercial, and government purchases of new vehicles to 1.3 million units, a 3% increase from this time in … Continued
With new-vehicle inventory tight throughout the quarter, incentive program volume was down year over year in Q3 and down from the 5-year average. Incentive spend as a percent of average transaction price is also down, according to recent data from Kelley Blue Book. Incentive program volumes, as measured by the Cox Automotive Rates & Incentive team, … Continued
August was the fourth straight month of slowing new-vehicle sales. The global chip shortage is the main culprit as the resulting dearth of inventory pushes prices to record highs. A second round of consumer research conducted by Kelley Blue Book finds that nearly half of car shoppers are exiting the market and delaying their purchase … Continued
Revised Oct. 21, 2021 – The average listing price for used vehicles set another record in August as vehicle inventory dipped, according to the Cox Automotive analysis of vAuto Available Inventory data. Though available supply fell, days’ supply held steady throughout August because sales slowed. 2.27M Total UnsoldUsed Vehiclesend of August 38 Days’ Supply $25,890 … Continued
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 3.6% in the first 15 days of September compared to the month of August. This brought the Manheim Used Vehicle Value Index to 201.4, a 24.9% increase from September 2020. Manheim Market Report (MMR) prices saw a strong increase through the first … Continued
With market dynamics leading to record prices and at least a decade-low for the month of August in incentives, new-vehicle affordability declined again in August. Without improving incomes, the decline in affordability would have been even worse. The number of median weeks of income needed to purchase the average new vehicle in August increased to … Continued
Revised Oct. 14, 2021 – The total volume of new-vehicle inventory declined again in August, as automakers continue to struggle with production due to the computer chip shortage, according to a Cox Automotive analysis of vAuto Available Inventory data. The days’ supply has been holding steady over the past month. 1.01M Total Inventoryas of Aug. 23, 2021 … Continued
