With market dynamics leading to record prices and a nine-year low in incentives, new-vehicle affordability declined this spring and has hit record lows in each of the last two months. Without improving incomes and favorable interest rates, the decline in…
New daily COVID-19 cases continued to increase last week. Jobless claims kept falling, but measures of consumer sentiment are showing declines so far in August as consumers deal with a host of issues including the fourth wave of COVID-19, diminishing…
Certified pre-owned (CPO) sales reached 248,749 units in July, reflecting a 4% month-over-month increase and a 2% year-over-year decrease when relatively strong July 2020 CPO sales were part of the used-vehicle market recovery. A much more relevant comparison is to…
After slumping to historic lows a month ago, new-vehicle inventory, based on days of supply, showed signs of stabilizing as the U.S. industry entered August, according to a Cox Automotive analysis of vAuto Available Inventory data. Still, overall inventory remains…
Access to auto credit was little changed in July after two months of modest moves according to the Dealertrack Auto Credit Availability Index for all types of auto loans. The All Loans Index increased 0.1% to 98.1 in July, reflecting that auto credit was slightly easier to get in the month compared to…
PHOENIX (August 10, 2021) – Cox Automotive Mobility, a division of Cox Automotive committed to advancing the world’s fleets to serve the next generation, will be joining the Institute of Automated Mobility (IAM), a public-private consortium established by Governor Ducey in 2018…
July saw further strong gains in jobs with 943,000 created. The headline unemployment rate and the underemployment rate fell to new lows for the pandemic. New jobless claims also fell again last week, and continuing claims fell in the latest…
The speed of change in automotive retail and wholesale has been remarkable in the last couple years. Most of the focus on the wholesale side has been on digital sales, as auction companies such as Cox Automotive’s Manheim had to switch…
CBT News, August 6, 2021 – On today’s show, Jim Fitzpatrick is pleased to welcome Jonathan Smoke, Chief Economist for Cox Automotive. He discusses the Manheim Used Vehicle Value Index and the used-vehicle market. The Manheim index tracks what’s selling at Manheim.…
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 2.6% month-over-month in July. This brought the Manheim Used Vehicle Value Index to 195.2, a 23.6% increase from a year ago. Manheim Market Report (MMR) prices saw…
