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
Certified pre-owned (CPO) sales in February rose to 191,860 units. This total is up 15.3% from January’s 166,309, but down nearly 8.5% from February 2021. February’s CPO result is the highest since October 2021 and interrupts a six-month downward trend. CPO sales have been in decline since having strong sales in Q2 and Q3 of … Continued
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
