In March, 183,042 total fleet units were sold, compared to 178,252 in February and 229,725 last March, a 2.7% month-over-month improvement. Combined sales into large rental, commercial, and government buyers were down 20.3% year over year in March. This brings…
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 5.87% month over month in March. This brought the Manheim Used Vehicle Value Index to 179.2, a 26.2% increase from a year ago and a record high…
Incentive program volume in Q1 2021 was down 13.9% from Q1 2020, as tight inventories and healthy demand helped keep the market moving. Program volume – a count of the number of vehicle incentive programs offered by the automakers – was at an all-time…
Tight new-vehicle inventory has been an issue for the industry for nearly a year now, as inventory levels have not fully recovered from production losses in Q2 2020 caused by the pandemic. More recently, in North America, about 30 models are…
Tax season is off to a slow start this year due to pandemic-related impacts and delays the IRS instituted related to when filings were accepted and when refunds would start to be issued. As a result, the current tax return…
The board of the Federal Reserve Bank met earlier this week and confirmed their decision not to move monetary policy and issued a statement seen by many as optimistic: “… indicators of economic activity and employment have turned up recently, although…
Late last month, according to data compiled by Xtime, a Cox Automotive software brand, the service department business at an average dealership was down approximately 8% from year-earlier levels. An 8% drop in business is serious but, in fact, it’s…
Used-vehicle inventory fell from January to February just as the spring selling season got off to an early start, according to a Cox Automotive analysis of vAuto Available Inventory data. 2.59M Total Unsold Used Vehicles end of February 48 Days’…
Given the ongoing turbulence in the automotive marketplace, the Cox Automotive Economic & Industry Insights team is publishing its mid-month view of the wholesale market, including wholesale prices. The posted material provides commentary and an updated look at the Manheim…
Sales of certified pre-owned (CPO) vehicles declined 12% year over year in February but were up 4% month over month compared to softer sales in January. In February, 209,744 CPO units were sold. The CPO market has been one of…
