According to a new report from Kelley Blue Book, new-vehicle prices hit another all-time high in August 2021, marking the fifth straight record-setting month. At $43,355, the average transaction price (ATP) for a new vehicle was up nearly 10% ($3,789) from one year ago in August 2020, and up 1.6% ($685) from July 2021. Yet … Continued
Access to auto credit expanded slightly in August according to the Dealertrack Credit Availability Index for all types of auto loans. The All Loans Index increased 0.4% to 98.5 in August, reflecting that auto credit was slightly easier to get in the month compared to July. Access was looser by 6.0% year over year, but … Continued
Certified pre-owned (CPO) sales reached 222,942 units in August. This sales level reflects a 10% month-over-month decrease and a 7% year-over-year decrease when CPO sales continued their strong performance in August 2020 as an important part of the used-vehicle market recovery. The year-over-year decrease was less than the overall used-vehicle market decline of 12%. A … Continued
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 0.4% month over month in August. This brought the Manheim Used Vehicle Value Index to 194.5, an 18.8% increase from a year ago. The seasonal adjustment caused the monthly decline as the non-seasonally adjusted average price increased 1.4% in August, which left … Continued
In August, 112,069 total fleet units were sold, a 3% month-over-month decrease compared to 115,976 in July and an 11% increase from August 2020 which recorded 101,159 units. This brings the 2021 year-to-date total combined large rental, commercial, and government purchases of new vehicles to 1.2 million units, a 6% increase from this time in … Continued
The average listing price for used vehicles set another record in July as vehicle inventory remained tight, according to the Cox Automotive analysis of vAuto Available Inventory data. The days’ supply of vehicles inched higher, but only because sales slowed. 2.40M Total UnsoldUsed Vehiclesend of July 41 Days’ Supply $25,498 Average Listing Price 68,455 Average … Continued
The average transaction price (ATP) for a new automobile in July 2021 hit a new record high in the United States at $42,736, according to the analysts at Kelley Blue Book. Transaction prices were up $3,223 (8.2%) from July 2020 and increased $402 (0.9%) from June 2021. New-vehicle transaction prices have increased – and set … Continued
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 0.8% in the first 15 days of August compared to the month of July. This brought the Manheim Used Vehicle Value Index to 193.7, a 18.3% increase from August 2020. Manheim Market Report (MMR) prices saw mixed trends in the first two … Continued
With market dynamics leading to record prices and a nine-year low in incentives, new-vehicle affordability declined this spring and has hit record lows in each of the last two months. Without improving incomes and favorable interest rates, the decline in affordability would have been even worse July. The number of median weeks of income needed … Continued
Certified pre-owned (CPO) sales reached 248,749 units in July, reflecting a 4% month-over-month increase and a 2% year-over-year decrease when relatively strong July 2020 CPO sales were part of the used-vehicle market recovery. A much more relevant comparison is to July 2019, and CPO sales were up 5% compared to that more normal period. CPO … Continued
