Vehicle affordability improved 1.42% month over month in November according to the Cox Automotive/Moody’s Analytics Vehicle Affordability Index (VAI). November was the first month-over-month improvement in vehicle affordability since May 2020, when the index reached 30.80, the lowest point in the past eight years. Year over year, November’s VAI of 32.55 is just slightly lower … Continued
If there’s a single trend we’ve consistently seen in 2020, it’s the relentless upward track of new- and used-vehicle prices. Vehicle affordability can be measured in many ways, and the Cox Automotive Industry Insights team is working with Moody’s Analytics to provide a true affordability measure based on a wide collection of data sets, including … Continued
The global pandemic has played havoc on the U.S. economy and the automotive market, with a forecast of 14.3 million new-vehicle units to be sold in the U.S. this year, down roughly 3 million units from 2019. Despite lower sales across the board, certain brands fared better than others. As we wind down this rough … Continued
Sales of certified pre-owned (CPO) vehicles declined 21% year over year in November with 3 less selling days and were down 20% month over month compared to October, reflecting a normalizing market coming off of a resilient performance in the summer and fall months. For November, 186,861 CPO units were sold. The CPO market has … Continued
With factories back to nearly full production and sales slowing, new-vehicle inventory climbed during November though it remains below normal, according to a Cox Automotive analysis of vAuto Available Inventory data. List prices also rose. 2.87M Total Inventory 75 Days’ Supply $39,953 Average List Price The total U.S. supply of available unsold new vehicles stood … Continued
In November, 132,145 total fleet units were sold, compared to 132,560 in October. Combined sales into large rental, commercial, and government buyers were down 29% year over year in November. Government units were up 3% year over year, on a small base, while rental units were down 42% year over year in November, an improvement … Continued
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 0.07% month over month in November. This brought the Manheim Used Vehicle Value Index to 162.0, a 16.6% increase from a year ago. The non-seasonally adjusted monthly change was -1.2%, which was more in line with what we have been seeing in weekly … Continued
Used-vehicle inventory, which had been rising modestly in recent weeks, accelerated more quickly to open the month of November, and the average listing price set a new record, according to a Cox Automotive analysis of vAuto Available Inventory data. As of Nov. 2, the total U.S. supply of unsold used vehicles stood at 2.56 million, … 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 November and general information on segment performance for the first … Continued
Sales of certified pre-owned (CPO) vehicles increased 1% year over year in October and were up 4% month over month compared to September, reversing a negative trend of three consecutive months of decreasing sales. For October, 233,514 CPO units were sold. The CPO market has been one of the strongest performing segments within the auto … Continued
