Nissan Motor Co. in Japan reports its financial results for the April-to-June quarter Wednesday, July 28. The quarter is Nissan’s first in its fiscal year that ends March 31, 2022. Nissan has been forced to cut production in Japan and the U.S. due to the global computer chip shortage, but, in the U.S., it has … Continued
Used-vehicle prices set another record at the end of June, according to a Cox Automotive analysis of vAuto Available Inventory data. 2.40M Total UnsoldUsed Vehiclesend of June 40 Days’ Supply $25,093 Average Listing Price 68,700 Average Mileage Topline data revised August 18. Story content has not changed. The average listing price for used vehicles surpassed … Continued
The estimated average transaction price (ATP) for a light vehicle in the United States was $42,258 in June 2021, according to the analysts at Kelley Blue Book. New-vehicle prices increased $2,527 (up 6.4%) from June 2020, while increasing $928 (up 2.2%) from May 2021. “Despite record low incentives and inventory in June, last month … Continued
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 1.7% in the first 15 days of July compared to the month of June. This brought the Manheim Used Vehicle Value Index to 196.9, a 24.7% increase from July 2020. Manheim Market Report (MMR) prices declined in each of the last two … Continued
The U.S. auto market has seen growth this year in nearly every segment, but no segment is growing more quickly and more relentlessly than electrified vehicles – the combined total of electric vehicles (EVs), hybrids and plug-in hybrids. According to an analysis of Q2 data from Kelley Blue Book, sales of pure EVs passed 100,000 units in the quarter – a first – and hybrids sales were over 250,000. … Continued
With market dynamics leading to record prices and record low incentives, new vehicle affordability declined this spring. In addition, with waning stimulus support, affordability declined in June to a new low on the affordability index, which dates to 2012. The number of median weeks of income needed to purchase the average new vehicle in June … Continued
Revised August 1, 2021 – The U.S. auto industry entered July with historically low inventories that triggered record-high prices, according to a Cox Automotive analysis of the vAuto Available Inventory data. 1.34M Total Inventoryas of June 21, 2021 29 Days’ Supply $40,999 Average Listing Price The total U.S. supply of available unsold new vehicles stood … Continued
Certified pre-owned (CPO) sales had a frenzied spring, just like the broader used-vehicle retail market. However, like the market, the frenzy cooled down as spring ended and transitioned into summer. In June, 239,049 CPO units were sold. June CPO sales were down 9% year over year and down 11% month over month as waning stimulus … Continued
Access to auto credit improved modestly in June after tightening in May, according to the Dealertrack Credit Availability Index for all types of auto loans. The All Loans Index increased 0.3% to 98.0 in June, reflecting that auto credit was easier to get in the month compared to May. Access was looser by 4.4% year … Continued
It might be fair to call spring 2021 a full-on sales frenzy for autos, pushed by pent-up demand, government stimulus and tax returns, and a general feeling that the global pandemic, in the U.S. at least, was moving into the rearview mirror. The quarter began with the seasonally adjusted annual rate (SAAR) of sales hitting … Continued
