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.
New-vehicle average transaction prices (ATPs) increased to $46,526 in April 2022, according to new data released by Kelley Blue Book, a Cox Automotive company. Prices rose 0.7% ($304) month over month and remain elevated compared to one year ago, up 13.0% ($5,354) from April 2021. New-vehicle inventory days’ supply stayed in the low 30s in … Continued
Toyota returned as the most considered non-luxury brand after Ford’s brief occupation of the top spot, and Chevrolet closed in on both in the first quarter, according to the most recent Kelley Blue Book Brand Watch Report™. The Kelley Blue Book Brand Watch Report is a consumer perception survey that also weaves in shopping behavior … Continued
The April employment report showed stable job growth at 428,000 new jobs, and the unemployment rate was also unchanged at 3.6%. Labor force participation declined from what had been the highest level for the pandemic in March. Growth in average hourly earnings slowed. Consistent with a strong labor market, continuing claims keep falling and are … Continued
Certified pre-owned (CPO) sales in April rose to 223,999 units, up 2% from March’s 219,360. April’s CPO result is the highest since September 2021 and is the fourth straight uptick this year. However, CPO sales are down 14% year over year. APRIL 2022 CPO SALES Leveraging a same-store set of dealerships selected to represent the … Continued
Wholesale used-vehicle prices (on a mix-, mileage- and seasonally adjusted basis) declined 1.0% in April from March. The Manheim Used Vehicle Value Index declined to 221.2, which was up 14.0% from a year ago. The non-adjusted price change in April was an increase of 2.9% compared to March, leaving the unadjusted average price up 16.4% … Continued
Sales into large fleets, not including sales into dealer and manufacturer fleets, decreased 12% month over month in April to 154,654 units, according to an early estimate from Cox Automotive. APRIL 2022 FLEET SALES Combined sales into large rental, commercial, and government fleets increased 4% from April 2021. Sales into commercial fleets in April saw … Continued
The Fed delivered on expectations today by raising the target rate for the Federal Funds Rate by half of a percentage point and announcing the plan to start reducing its balance sheet starting on June 1. The increase in the target rate was the largest in 22 years. The policy decision by the Fed Open … Continued
Stellantis posts first-quarter 2022 financial results before the U.S. stock market opens on Thursday, May 5. In its important U.S. market, Stellantis sales fell less than the overall market because it had more inventory than many competitors. The high-volume, most profitable brands – Jeep and Ram – significantly outperformed in sales. At the same time, … Continued
Real GDP declined in the first quarter but mainly because of net exports and declining inventories. Consumer spending remained robust. Consumer spending in March, in fact, accelerated and even showed growth on an inflation-adjusted basis over February and last year. Incomes are also growing at a healthy pace supported by every factor but unemployment benefits. … Continued
