Retail sales in May declined more than expected, and inflation pressures led to continued shifts in the pattern of spending. Adjusted for inflation, retail sales were down compared with a year ago, but spending remains quite robust on a nominal…
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) were essentially unchanged from May after the first 15 days of June. This kept the Manheim Used Vehicle Value Index at 222.7, which was up 11.1% from June 2021.…
Revised, July 14, 2022 – In contrast to new vehicles that are seeing rising prices, the average listing price of used vehicles has begun to inch down ever so slightly as supply holds relatively steady, according to the Cox Automotive…
Revised, July 14, 2022 – New-vehicle inventory remained at the same level it has been for months, according to Cox Automotive’s analysis of vAuto Available Inventory data, despite comments from some automotive executives that the global computer chip shortage is…
The Fed raised the target for the Federal Funds Rate by three-quarters of a percentage point today as it becomes more aggressive in its quest to rein in inflation. The increase in the target rate was the largest in almost…
CBT News, June 15, 2022 – Cox Automotive recently released its Q2 Dealer Sentiment Index, which provides a current view of dealer sentiment and looks ahead to the next 90 days. The study reveals that COVID concerns are mostly in the…
New-vehicle affordability worsened again in May, with increases in interest rates and vehicle prices outpacing income growth. The number of median weeks of income needed to purchase the average new vehicle increased for the fourth consecutive month reaching 41.3 weeks…
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 the total vehicle-related costs an owner will…
Financial markets sold off Friday with the report on the Consumer Price Index showing inflation accelerating again in May. Inflation is also weighing on consumer attitudes as measures of consumer sentiment have shown further declines. The gains in inflation were…
Certified pre-owned (CPO) sales in May fell to 208,423 units, down 7% from April’s 223,999 unit sales and down over 22% from May 2021. May’s CPO sales result is the lowest since February and halts four straight months of increases.…
