Nissan Motor Co. in Japan reports its financial results for the April-to-June quarter Wednesday, July 28. The quarter is Nissan’s first in its fiscal year that ends March 31, 2022. Nissan has been forced to cut production in Japan and the U.S. due to the global computer chip shortage, but, in the U.S., it has … Continued
The Philadelphia Inquirer, July 26, 2021 – Anybody shopping now for a vehicle knows it is a seller’s market. A shortage of new cars has rippled out and created a frenzy in the used-car market. The prices of some used vehicles have soared above the original sticker price. It’s crazy. “We’ve never seen anything like … Continued
CBT News, July 26, 2021 – Penske Automotive Group and Cox Automotive have debuted an industry-first automated digital retailing platform for vehicle sales. Joining CBT News today to discuss this development is Marianne Johnson, Chief Product Officer at Cox Automotive, alongside Mike Barrington, who is the Senior Vice President and Business Leader of Digital Commerce … Continued
The trend in new daily COVID-19 cases continued increasing last week. Consumer sentiment declined again and is having its worst month since November. Wholesale used vehicle values continue to decline from their peak in early June. Retail prices are likely to reach their peak this month. New construction trends in June were mixed, but declining … Continued
IRVINE, Calif., July 26, 2021 – While the U.S. automotive market has experienced growth this year in nearly every vehicle segment, Kelley Blue Book today reports no segment is growing more quickly and relentlessly than electrified vehicles – defined as the combined total of electric vehicles (EVs), hybrids and plug-in hybrids. New-vehicle demand is up across … Continued
Used-vehicle prices set another record at the end of June, according to a Cox Automotive analysis of vAuto Available Inventory data. 2.40M Total UnsoldUsed Vehiclesend of June 40 Days’ Supply $25,093 Average Listing Price 68,700 Average Mileage Topline data revised August 18. Story content has not changed. The average listing price for used vehicles surpassed … Continued
BLOOMFIELD HILLS, MI and ATLANTA, GA (July 22, 2021) – Penske Automotive Group, Inc., (NYSE:PAG) and Cox Automotive, Inc. (“CAI”), announced today they have jointly developed a transformational, fully automated technology platform to enable the online retail sale of used vehicles. The automated online buying platform, which is owned exclusively by Cox Automotive, allows consumers … 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.
The estimated average transaction price (ATP) for a light vehicle in the United States was $42,258 in June 2021, according to the analysts at Kelley Blue Book. New-vehicle prices increased $2,527 (up 6.4%) from June 2020, while increasing $928 (up 2.2%) from May 2021. “Despite record low incentives and inventory in June, last month … Continued
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 1.7% in the first 15 days of July compared to the month of June. This brought the Manheim Used Vehicle Value Index to 196.9, a 24.7% increase from July 2020. Manheim Market Report (MMR) prices declined in each of the last two … Continued
