Bucking the worsening trend throughout most of last year, new-vehicle affordability managed to improve slightly in January despite interest rates moving higher. The improvement in affordability for the month was driven by a decline in prices combined with growth in median income. The number of median weeks of income needed to purchase the average new vehicle … 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.
Shopping for electrified vehicles set another record, and some models were among the most shopped of all luxury and non-luxury vehicles, electrified or not, illustrating electrified vehicles are going mainstream, according to the Q4 2021 Kelley Blue Book Brand Watch™ report. The report is a consumer perception survey that also weaves in consumer shopping behavior … Continued
The Chicago Auto Show opened to the public this past weekend. This is the first time in two years that the largest consumer-focused auto show is open for business. There was a “Summer Show” this past July in Chicago, but that event was smaller and largely outdoors. The show opening now is more familiar, more … Continued
COVID-19 cases continue to fall rapidly. Daily cases numbers are back to late December levels. Even with cases down, consumer sentiment, according to the University of Michigan, declined again in the initial February reading. Inflation picked up again in January to record the highest level of year-over-year inflation in 40 years. Wholesale used-car prices did … Continued
Certified pre-owned (CPO) sales in January fell to 166,309 units. This total is down nearly 11% from December’s 186,748 and down nearly 17% from January 2021. January’s CPO result is the lowest monthly total since April 2020. CPO sales have been in decline since having strong sales in Q2 and Q3 of 2021. January 2022 CPO Sales … Continued
Lexus squeaked by BMW as the most-shopped luxury brand in the fourth quarter of 2021, a spot the German brand had held for the past three years, according to the Kelley Blue Book Brand Watch™ report. But Tesla is right behind both. The Kelley Blue Book Brand Watch report is a consumer perception survey that … Continued
ATLANTA (Feb. 10, 2022) – To further improve cash flow for independent dealers to invest back into their businesses, NextGear Capital is introducing a new element to Flex Pricing, a floor plan program that offers .01% principal reduction per period and fewer fees. Now, Flex Pricing will offer additional payment deferments on vehicles purchased from … Continued
Access to auto credit expanded in January according to the Dealertrack Credit Availability Index for all types of auto loans. The All Loans Index increased 0.4% to 102.0 in January, reflecting that auto credit was easier to get in the month compared to December. Access was looser by 7.6% year over year and compared to … Continued
New-vehicle average transaction prices (ATPs) decreased to $46,404 in January 2022, according to new data released today by Kelley Blue Book, after reaching a record high in December 2021. Prices fell 1.8% ($839) month over month mostly due to fewer luxury vehicles being sold in January, but prices remain elevated compared to one year ago, up 12.5% … Continued
