Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 0.7% in the first 15 days of May compared to the full month of April. This brought the Manheim Used Vehicle Value Index to 222.7, which was up 9.7% from May 2021. The non-adjusted price change in the first half of May was … Continued
New-vehicle affordability declined slightly in April despite revised data indicating stronger income gains, according to the latest Cox Automotive/Moody’s Analytics Vehicle Affordability Index. The inputs to the index again moved in differing directions in the month. The number of median weeks of income needed to purchase the average new vehicle in April increased to 40.6 … Continued
COVID cases increased again as Omicron subvariants push case numbers up to levels last seen in mid-February. Measures of consumer sentiment have shown declines so far in May, as inflation and stock market declines weigh on consumer attitudes. Inflation decelerated slightly in April, but rent and services saw gains. Consumer credit grew at an accelerated … Continued
South Korean automaker Hyundai Motor, which includes the Hyundai, Kia and Genesis brands, posted a better-than-expected rise in its first-quarter profit as favorable exchange rates more than made up for higher raw material costs and a drop in vehicles sales caused by the global computer chip shortage. The U.S. is one of the most important … Continued
Surging gas prices in March led one-in-four shoppers to consider electrified vehicles, particularly EVs and hybrids, a trend likely to accelerate as new models hit showrooms soon, according to the Q1 2022 Kelley Blue Book Brand Watch™ report. The Kelley Blue Book Brand Watch report is a consumer perception survey that also weaves in consumer … Continued
Honda posts financial results for the January-to-March quarter on May 13, the automaker’s final quarter of its fiscal year. In the U.S., its sales were down in the quarter as both Honda and Acura continue to have supply chain problems leading to low inventory. March saw U.S. sales decline for Acura for the seventh straight … Continued
Nissan posts financial results for the January-to-March quarter on May 12, the automaker’s final quarter of its fiscal year. Nissan is closing out the second year of its four-year turnaround plan that has the U.S. as a centerpiece for its growth. Part of that plan was to be less reliant on fleet sales and cut … Continued
Toyota posts financial results for the January-to-March quarter on May 11, the automaker’s final quarter of its fiscal year. In the U.S., sales were down in the quarter as both Toyota and Lexus continue to have supply constraints brought on by the chip shortage, higher raw materials prices and the war in Ukraine. Even with … Continued
BMW regained its spot as the most-shopped luxury brand in the first quarter of 2022, a spot it had held for the past three years until the final quarter of 2021 when Lexus squeaked by, according to the Q1 2022 Kelley Blue Book Brand Watch™ report. Cadillac for the first time moves past Lexus to … Continued
Access to auto credit expanded again in April, according to the Dealertrack Credit Availability Index for all types of auto loans. The All Loans Index increased 1.7% to 106.3 in April, reflecting that auto credit was easier to get in the month compared to March. Access was looser by 8.1% year over year, and compared … Continued
