Service centers at U.S. franchised dealerships were less busy in November than in October, according to the latest analysis of Xtime metrics. The Repair Order Volume Index decreased in November while the Repair Order Revenue Index increased slightly in November versus October. Repair order volume remains well below pre-pandemic levels, but revenue per repair set … Continued
New daily COVID-19 cases increased week over week as cases remain elevated about where they have been for the last two weeks. The impact of the omicron variant in the U.S. has been limited so far. Jobless claims continue to decline to more normal levels as the job market heals. Consumer sentiment has improved slightly … Continued
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 3.1% in the first 15 days of December compared to the month of November. This brought the Manheim Used Vehicle Value Index to 239.8, a 48.9% increase from December 2020. As was the case in October and November, much of the monthly … Continued
Used-vehicle inventory inched slightly higher in November as the average listing price climbed past $27,000 for the first time, according to the Cox Automotive analysis of vAuto Available Inventory data. 2.31M Total UnsoldUsed Vehiclesend of November 44 Days’ Supply $27,569 Average Listing Price 68,482 Average Mileage The total supply of unsold used vehicles on dealer … Continued
The tightening of U.S. monetary policy is accelerating after the Fed’s eighth and final meeting in 2021. As expected, the Fed announced that tapering would accelerate and bond buying would end by March. This sets the stage for rate increases to begin soon thereafter as the economic priorities shift from a focus on job recovery … Continued
Revised Jan. 14, 2022 – The new-vehicle supply rose to nearly 1 million units at the end of November, a level not seen since early August, according to a Cox Automotive analysis of vAuto Available Inventory data. The average listing price surpassed $45,000 in November for the first time ever. 935,100 Total Inventoryas of Nov. … Continued
Following similar dynamics each month this fall including another new record on the average price paid and another low for incentives, new-vehicle affordability declined again in November. November’s affordability decline was caused by all vehicle market factors moving against affordability while median income again declined, albeit slightly. The number of median weeks of income needed … Continued
Certified pre-owned (CPO) sales fell to 181,079 units in November. This sales level reflects a 17% month-over-month decrease and a 3% year-over-year decrease. November CPO sales slowed for the second consecutive month, following a strong performance during the first three quarters of the year. CPO SALES With 2,561,416 units sold through November, year-to-date CPO sales are … Continued
ATLANTA, Dec. 13, 2021 – With a historic inventory crunch and rising costs impacting the auto industry, U.S. dealer sentiment waned slightly in the fourth quarter but remains mostly positive and well above levels recorded in Q4 2020 and Q4 2019. The current market index reading of 60 in the most recent Cox Automotive Dealer … Continued
The trend in new daily COVID-19 cases kept rising last week as the seven-day average of daily cases was up and case levels are back to early October numbers. The most current view of consumer sentiment moved slightly higher for the week, and the initial reading for December from the University of Michigan registered an … Continued
