Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) declined 3.8% in the first 15 days of March compared to the full month of February. This brought the Manheim Used Vehicle Value Index to 222.4, which was up 24.1% from March 2021. The non-adjusted price change in the first half of March was … Continued
The Fed followed through with its widely telegraphed plan to start raising the target rate for the Federal Funds Rate. The target was increased by a quarter of a point, as expected, but the Fed indicated that six more quarter-point rate increases will likely follow before year-end, and that was more than expected. Rate projections … Continued
CBT News, March 16, 2022 – At this year’s NADA Show in Las Vegas, CBT News anchor Jim Fitzpatrick had a chance to speak with Grace Huang, President of Inventory Solutions Group at Cox Automotive, and Brad Burns, AVP of Vehicle Information at Manheim. What they cover: How Manheim and Fyusion are making the digital wholesale buying experience … Continued
Revised, April 13, 2022 – New-vehicle inventory edged higher in the last two weeks of February, though days’ supply fell from January, according to a Cox Automotive analysis of vAuto Available Inventory data. Prices slipped again, staying below $45,000. 1.07M Total Inventoryas of Feb. 28, 2022 35 Days’ Supply $44,661 Average Listing Price The total … 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.
New-vehicle affordability declined slightly in February but remains a bit better than December. The inputs to the index moved in differing directions in the month. The number of median weeks of income needed to purchase the average new vehicle in February increased to 42.9 weeks from 42.8 weeks in January but remained below the record … Continued
ATLANTA, March 14, 2022 – Cox Automotive presented its annual Barbara Cox Woman of the Year Award to Chrissy Taylor, president and chief executive officer for Enterprise Holdings Inc., headquartered in St. Louis. Enterprise Holdings operates the Enterprise Rent-A-Car, National Car Rental and Alamo Rent A Car brands in nearly 100 countries and territories. Enterprise … Continued
Automotive News, March 14, 2022 – Brian Finkelmeyer, new-car strategist at Cox Automotive, writes in a commentary piece in Automotive News about three areas of opportunity that deserve more attention than “How many and how much.” In this article, Finkelmeyer explains that making a lot of money in the current environment doesn’t necessarily mean dealers … Continued
ATLANTA, March 14, 2022 – Cox Automotive presented its annual Leader in Sustainability Award to LaFontaine Automotive Group, a Michigan-based dealership group with 51 retail franchises, eight collision centers and 29 retail locations. The Cox Automotive Leader in Sustainability Award recognizes a dealership for outstanding in-dealership sustainability programs related to waste reduction, energy or water … Continued
COVID-19 cases continue to fall and are back to July levels. Even with cases down, consumer sentiment, according to the University of Michigan, declined again in the initial March reading as consumers are impacted by rising gas prices and unsettled by the conflict in Ukraine. Inflation picked up again in February to record the highest … Continued
