Manufacturers continue to prioritize retail over fleet, with sales into large fleets falling 48% month over month in January to 97,707 units. JANUARY 2022 FLEET SALES Combined sales into large rental, commercial, and government buyers were down 36% year over year in January. Sales into commercial increased 4% year over year. Sales into rental declined … Continued
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) were essentially unchanged in January compared to December. The Manheim Used Vehicle Value Index increased slightly to 236.3, which was a 45.0% increase from a year ago. The non-adjusted price change in January was a decline of 0.9% compared to December, leaving the unadjusted … Continued
ATLANTA, Feb. 7, 2022 – Cox Automotive, an innovative provider of vAuto inventory management technology, tools and business intelligence, today announced its latest innovation, vAuto ProfitTime’s Global Acquisition, the industry’s first multichannel acquisition system to help dealers optimize their inventory sourcing from non-traditional channels. “Acquiring inventory is the No. 1 challenge facing dealers today, and will be … Continued
The January employment picture was much brighter than expected, as the omicron wave of COVID-19 failed to make a major dent in the tight job market. Job creation, wage growth and workforce participation gained as jobless claims fell. New-vehicle sales were down 10% in January. The seasonally adjusted annual rate (SAAR) of sales improved to … Continued
Hot new products and more plentiful inventory pushed the Ford brand to No. 1 in shopping consideration in the fourth quarter of 2021, a spot Toyota had held for nearly four years straight, according to the Kelley Blue Book Brand Watch Report for non-luxury vehicles. The Kelley Blue Book Brand Watch Report™ is a consumer perception … Continued
I participated in a panel discussion titled Electric Vehicle Strategies: Driving Mass Market Uptake earlier this week at the BloombergNEF Summit in San Francisco. Bloomberg set the stage of the discussion by stating that policy mandates and subsidies characterized the first phase in the global electric vehicle (EV) market, but now organic consumer demand is … 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.
Ford reports fourth-quarter and full-year 2021 financial results after the stock market closes on Thursday, Feb. 3. Analysts speculate that Ford may surprise again with better-than-expected results. Every unit of Ford, from Ford Credit to international operations to North America, likely registered improvement to close out 2021. Ford, in fact, raised its guidance for the … Continued
Economic growth recovered in the fourth quarter, as real GDP growth accelerated to 6.9%, which was the strongest reading for the year. The increase was assisted by large gains in inventories as the worst of the supply chain problems likely was at the end of the third quarter of 2021. However, consumer spending growth ended … Continued
General Motors reports fourth-quarter and full-year 2021 financial results after the stock market closes on Tuesday, Feb. 1, and is expected to post solid results. The headline news for the year was that GM was outsold by Toyota, in the fourth quarter and for the full year. GM vastly underperformed the U.S. market in sales … Continued
