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 the strongest performing segments within the auto retail market despite the ongoing pandemic. Going into 2021, … Continued
Affordability improved in February, as represented by median weeks of income needed to purchase a new vehicle declined to 31.7 weeks from 32.5 weeks in January. The Cox Automotive/Moody’s Analytics Vehicle Affordability Index continues to show that new vehicles have become relatively more affordable since October 2020, when the affordability index reached 35.3 weeks, the … Continued
The estimated average transaction price for a light vehicle in the United States was $41,066 in February 2021, according to the valuation analysts at Kelley Blue Book. New-vehicle prices increased $2,515 (up 6.52%) from February 2020, while falling $31 (down 0.08%) from January 2021. “Average transaction prices continue to rise year-over-year and given the economy hasn’t fully recovered from the pandemic, we expect prices have yet to reach their peak,” said Kayla Reynolds, … Continued
Access to auto credit increased in February and was the most accessible since May 2020 according to the Dealertrack Auto Credit Availability Index for all types of auto loans. The All Loans Index increased 1.1% to 95.8 in February, reflecting that auto credit was easier to get in the month compared to January. Access remains … Continued
New-vehicle inventory climbed through February due to slower sales caused by winter storms, but it remains lower than year-ago levels as prices keep rising, according to a Cox Automotive analysis of vAuto Available Inventory data. 2.82M Total Inventory 78 Days’ Supply $40,178 Average List Price The total U.S. supply of available unsold new vehicles stood … Continued
In February, 178,252 total fleet units were sold, compared to 153,372 in January, a 16.2% month-over-month improvement. Combined sales into large rental, commercial, and government buyers were down 36% year over year in February. Government units were down 39% year over year, on a small base, while rental units were down 43% year over year … Continued
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 3.79% month over month in February. This brought the Manheim Used Vehicle Value Index to 169.2, a 17.9% increase from a year ago and a record high for the Index. Manheim Market Report (MMR) prices strengthened as the month progressed. The Three-Year-Old … Continued
Vehicle models affected by the global shortage of computer chips that forced automakers to trim production continue to have a healthy supply, with some exceptions, according to a Cox Automotive analysis of vAuto Available Inventory data. In the U.S., about 30 models are affected by the chip shortage based on AutoForecast Solutions’ analysis of plants that … Continued
New EVs – 100% battery-powered vehicles – are generating a lot of buzz and excitement in the market right now, but in fact, U.S. consumers seem to favor hybrids and plug-in hybrids when shopping and buying electrified vehicles, specifically those from Toyota and Honda, according to Cox Automotive data. February sales were further proof. While … Continued
For 11 years now, the Cox Automotive Research & Market Intelligence team has been tracking the journey of car buyers, a winding road roughly 50 million Americans take every year as they set out to buy a vehicle, either new or used. The study, which has evolved over the past decade, is designed to provide a comprehensive … Continued
