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 Used Vehicle Value Index and general information on segment performance for the first 15 days … Continued
Sales of certified pre-owned (CPO) vehicles declined 2% year over year in December and were up 24% month over month compared to November, reflecting a normalizing market coming off of a resilient performance in the summer and fall months. For December, 231,042 CPO units were sold. The CPO market has been one of the strongest … Continued
Affordability improved in December, as represented by median weeks of income needed to purchase a new vehicle declined to 32.2 weeks from 33.8 weeks in November. The index was below the mid-point for the extreme highs and lows experienced in 2020 as every key variable (price paid, interest rate, incentives, and income) had substantial shifts … Continued
Access to auto credit improved modestly in December according to the Dealertrack Auto Credit Availability Index for all types of auto loans. The All Loans Index improved 0.1% to 94.9 in December, reflecting that auto credit was slightly easier to get in the month. However, access remains tighter by 5.0% year over year or by 4.4% compared to February before the pandemic began. Unlike November, not all loan types saw … Continued
New-vehicle inventory held steady heading into the new year, while the average listing price soared past the $40,000 mark throughout December, according to a Cox Automotive analysis of vAuto Available Inventory data. 3M Total Inventory 70 Days’ Supply $40,684 Average List Price The total U.S. supply of available unsold new vehicles stood at 3 million … Continued
In December, 165,713 total fleet units were sold, compared to 132,145 in November. Combined sales into large rental, commercial, and government buyers were down 25% year over year in December. Government units were up 3% year over year, on a small base, while rental units were down 41% year over year in December, an improvement … Continued
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 0.59% month over month in December. This brought the Manheim Used Vehicle Value Index to 161.1, a 14.2% increase from a year ago. Manheim Market Report (MMR) prices declined each week over the four full weeks of December, resulting in a 2.2% … Continued
December auto sales will be in the books by the end of the week, and industry observers will have a clear view of how individual automakers performed in 2020. One thing we do know for certain, the market in December was awash with incentive programs. As measured by the Cox Automotive Rates & Incentives team, … Continued
Given the current 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 Used Vehicle Value Index for December and general information on segment performance for the first … Continued
Used-vehicle inventory has held steady in recent weeks, while the average used-vehicle list price keeps climbing, according to a Cox Automotive analysis of vAuto Available Inventory data. 2.61M Total Unsold Used Vehicles as of Dec. 1 51 Days’ Supply $21,724 Average Listing Price 66,284 Average Miles The total U.S. supply of unsold used vehicles opened … Continued
