Both service activity and service revenue at U.S. franchised dealerships jumped in August, according to the latest Cox Automotive analysis of Xtime metrics. The Repair Order Revenue Index increased to a record high in August. Meanwhile, the Repair Order Volume Index increased both month over month and year over year. The monthly Xtime volume and … Continued
As consumer comfort with online car buying accelerates and retailers drive for more efficient operations, digital retailing solutions are being embraced. Innovation within financing and titling, critical enablers of the digital car buying experience, began more than 20 years ago. Predictive models evolved that help lenders set parameters that facilitate improved loan decisioning. The creation … Continued
The financial markets responded negatively this week to a mixed August inflation report that showed headline inflation coming down slightly, but not as much as expected, and showed core inflation accelerating with rents accelerating and food prices still growing even with gas prices declining. Retail sales in August were stronger than expected. Consumers spent less … Continued
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) declined 2.3% from August in the first 15 days of September. The Manheim Used Vehicle Value Index fell to 205.9, which was up only 0.6% from September 2021. The non-adjusted price change in the first half of September was a decline of 1.4% compared … Continued
Revised, Oct. 14, 2022 – Used-vehicle inventory volume held steady from July to August, as did prices – a sign of market stability, according to the Cox Automotive analysis of vAuto Available Inventory data. 2.46M Total UnsoldUsed Vehiclesas of Aug. 29, 2022 52 Days’ Supply $28,064 Average Listing Price 70,816 Average Mileage The total supply … Continued
Revised, Oct. 14, 2022 – New-vehicle inventory closed August higher than it did a year ago, when the global computer chip shortage began hurting production, but supply remains low compared with pre-pandemic times, according to Cox Automotive’s analysis of vAuto Available Inventory data. After bumping around through the month, the average listing price closed August … Continued
With new-vehicle prices setting a new record and auto loan rates reaching a more-than-10-year high, new-vehicle affordability declined again in August, according to the Cox Automotive/Moody’s Analytics Vehicle Affordability Index. The number of median weeks of income needed to purchase the average new vehicle in August increased to 42.6 weeks from an upwardly revised 42.2 … Continued
The Cox Automotive Monthly Industry Update is produced by the Cox Automotive Economic and Industry Insights team with the goal of providing a holistic look at the auto industry’s performance each month in video format. In Episode 5, Cox Automotive Executive Analyst Michelle Krebs is joined by Senior Manager of Economic and Industry Insights Chris … Continued
The video below is part of a biweekly Auto Market Report series focusing on data and insights that provide a holistic view of the auto industry. Chief Economist Jonathan Smoke leads our effort to translate data and trends into actionable insights. Download this week’s presentation.
Average new-vehicle prices hit a new record in August. Pricing power remains strong for manufacturers and dealers. Used-vehicle sales increased in August from July. Used supply is a bit higher than normal in retail and in wholesale, and as a result, wholesale prices in August declined more than normal for the time of year. Supply came … Continued
