New-vehicle average transaction prices (ATPs) decreased to $46,085 in February 2022 after reaching a record high in December 2021, according to new data released by Kelley Blue Book, a Cox Automotive company. Prices fell 0.5% ($253) month over month due to fewer luxury vehicles being sold in February, but prices remain elevated compared to one … Continued
Access to auto credit expanded in February according to the Dealertrack Credit Availability Index for all types of auto loans. The All Loans Index increased 1.9% to 104.0 in February, reflecting that auto credit was easier to get in the month compared to January. Access was looser by 8.6% year over year, and compared to … Continued
ATLANTA and SAVANNAH, Tenn., March 9, 2022 — Jones Motor Company announced today the launch of Jones Direct Auto powered by Cox Automotive Esntial Commerce™. The innovative, fully online, automated used vehicle retail website allows consumers to select from Jones’ high-quality, pre-owned vehicles and complete their purchases completely online. Jones Direct Auto is a new … Continued
Our Kelley Blue Book team offers plenty of good advice for vehicle buyers; one of their most well-known features is the annual 5-year Cost to Own research. In that study, the team considers total vehicle-related costs an owner will likely have to cover during the first 5 years vehicle ownership. This includes out-of-pocket expenses like … Continued
ATLANTA, March 9, 2022 – Facing a slow start to the year, and with concerns over inflation and the economy, automobile dealer sentiment softened in Q1, marking the third consecutive quarter-over-quarter decline in current market sentiment. Still, at 57, the current market index remains above the positive threshold in the latest Cox Automotive Dealer Sentiment … Continued
Sales into large fleets increased 27% month over month in February to 124,507 units, the highest volume in the past seven months, but remained down year over year. Rental fleet sales volume remains extremely low while commercial and government both saw modest year-over-year gains last month. FEBRUARY 2022 FLEET SALES Combined sales into large rental, … Continued
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) declined 2.1% in February from January. The Manheim Used Vehicle Value Index declined to 231.3, which was a 36.7% increase from a year ago. The non-adjusted price change in February was a decline of 2.2% compared to January, leaving the unadjusted average price up … Continued
ATLANTA, March 7, 2022 – Manheim and Fyusion have been working together for years, starting with Manheim Express in 2018, but it wasn’t until Cox Automotive acquired the computer vision leader a little over a year ago that the partnership accelerated. Now, Manheim is deploying Fyusion-powered mobile imaging at all of its locations, giving clients … Continued
The February employment report was stronger than expected as job creation accelerated to 678,000 jobs compared to 481,000 created in January, and prior months were revised up. Labor force participation grew to the highest level for the pandemic, and the unemployment rate fell to the lowest level for the pandemic. Jobless claims are falling, and … Continued
ATLANTA, March 4, 2022 – Cox Automotive, the world’s largest provider of automotive services and solutions, is showcasing a wide collection of products and services at the annual National Automobile Dealers Association (NADA) gathering this month in Las Vegas. At the NADA Show, Cox Automotive will feature its unmatched portfolio across 26,300 square feet of … Continued