ATLANTA, Feb. 17, 2022 — Cox Automotive today announced enhancements to Remote Signing on Dealertrack Digital Contracting. Expanding on Cox Automotive’s Digital Retailing portfolio of solutions, Remote Signing continues to deliver a more efficient, secure, easier digital experience anytime, anywhere – no matter how a consumer chooses to buy. “Consumer shopping and buying preferences have … Continued
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) declined 1.5% in the first 15 days of February compared to the full month of January. This brought the Manheim Used Vehicle Value Index to 232.8, which was up 37.6% from February 2021. The non-adjusted price change in the first half of February was … Continued
Revised March 16, 2022 – New-vehicle inventory, boosted by growing supply from domestic automakers, edged higher in the last weeks of January, according to a Cox Automotive analysis of vAuto Available Inventory data. Prices retreated from their December peak, dipping below $45,000. 1.06M Total Inventoryas of Jan. 31, 2022 37 Days’ Supply $44,814 Average Listing … Continued
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
