Cox Automotive Mobility’s latest white paper entitled Yes, the Electric Era is Here and It’s Good for People and the Planet explores the sustainability revolution that is underway, with EVs playing a significant role in the transportation present and future given their propensity to dramatically cut global warming emissions, charged by an ever-cleaner electricity grid. … 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.
Certified pre-owned (CPO) sales reached 228,118 units in September. This sales level reflects a 2% month-over-month increase and a 1% year-over-year increase when CPO sales continued their strong performance in September 2020 as an important part of the used-vehicle market recovery. CPO Sales With 2,163,380 units sold through September, year-to-date CPO sales are up 11% compared … Continued
Access to auto credit expanded slightly in September according to the Dealertrack Credit Availability Index for all types of auto loans. The All Loans Index increased 0.4% to 98.9 in September, reflecting that auto credit was slightly easier to get in the month compared to August. Access was looser by 5.5% year over year, but compared to February 2020, access was tighter by 0.3%. All loan types saw modest easing in September. Franchise Used … Continued
MISSION, Kan., Oct. 11, 2021 – Despite current headwinds and market conditions, dealership service centers remain resilient and continue to be among the most preferred service providers. According to the 2021 Cox Automotive Service Industry Study released today, 34% of consumers prefer dealership service centers, a 1 percentage point increase from 2018, and ahead of general repair … Continued
Job creation numbers for September were disappointing, though new jobless claims fell as did the unemployment rate – to a pandemic low – while wages grew. New-vehicle sales nosedived on low inventories, delivering the lowest seasonally adjusted annual rate (SAAR) in 16 months. The retail used vehicle market also cooled but still outperformed the new-vehicle … Continued
A replay of the Q3 2021 Manheim Used Vehicle Value Index Call held on Thursday, October 7, is available below. Cox Automotive Chief Economist Jonathan Smoke and Kayla Reynolds, manager of economic and industry insights, discussed the latest Manheim Used Vehicle Value Index and the major economic and industry trends that shaped the quarter. Jonathan … Continued
CORRECTION: An earlier version of this post reported that the Manheim Index hit a record high of 203 in June. The record high was reached in May and reported in June. ATLANTA (Oct. 7, 2021) – Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 5.3% month over month in September. This … Continued
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 5.3% month-over-month in September. This brought the Manheim Used Vehicle Value Index to 204.8, a 27.1% increase from a year ago. MANHEIM USED VEHICLE VALUE INDEX September 2021 Manheim Market Report (MMR) values saw accelerating weekly increases throughout September. Over the full … Continued
In September, 98,415 total fleet units were sold, a 12% month-over-month decrease compared to 112,069 in August and a 21% decrease from September 2020 which recorded 124,930 units. This brings the 2021 year-to-date total combined large rental, commercial, and government purchases of new vehicles to 1.3 million units, a 3% increase from this time in … Continued
