The average new-vehicle transaction price (ATP) in May 2021 increased 5.4% year over year and reached $41,263, according to an analysis by our Kelley Blue Book team. The ATP in May 2021 was an all-time record for the month and the 3rd highest ever, following December 2020 ($41,335) and February 2021 ($41,333). Prices increased 1.2%, or … Continued
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 0.29% in the first 15 days of June compared to the month of May. This brought the mid-month Manheim Used Vehicle Value Index to 203.6, a 36.4% increase from June 2020. Manheim Market Report (MMR) prices continued to increase but at a … Continued
U.S. monetary policy was unchanged today as the Fed issued their official statement following their fourth meeting of 2021. Minimal changes were made in the official statement compared to the prior statement. While acknowledging progress on vaccinations has reduced the effects of the public health crisis on the economy, the Fed is focusing on achieving … Continued
ATLANTA, June 15, 2021 – Cox Automotive today releases a new study — How to Thrive: Best Practices for an Accelerated Digital Landscape — examining effective strategies dealerships are adopting to find profits and thrive in today’s marketplace. With the industry’s abrupt shift from an in-person dominant to a digital-first model, Cox Automotive’s survey of … Continued
With extremely strong vehicle demand this spring resulting in ever-tightening supply, new-vehicle affordability would have had challenges with higher prices and lower incentives. Adding in the effect of waning stimulus support, affordability declined again in May and reached challenging levels last seen in December 2013. The number of median weeks of income needed to purchase … Continued
ATLANTA, June 14, 2021 – Cox Automotive announced today that Michele Parks has joined the company as chief people officer, leading a team responsible for recruiting, developing and managing talent for more than 25 brands. Parks, in her new role, will report to Steve Rowley, president of Cox Automotive. “I’m excited that Michele chose to join us because I believe … Continued
ATLANTA, June 14, 2021 – Dealer sentiment in the second quarter of 2021 saw substantial growth year over year and compared to Q2 2019 with the overall current market index increasing to 67, well above the positive threshold of 50 in the Cox Automotive Dealer Sentiment Index (CADSI). More dealers in the U.S. now feel that the … Continued
Derived from a quarterly survey that Cox Automotive issues to a representative sample of franchised and independent auto dealers from around the country, the Cox Automotive Dealer Sentiment Index (CADSI) measures dealer perceptions of current retail auto sales and sales expectations for the next three months as “strong,” “average” or “weak.” The survey also asks … Continued
New daily COVID-19 cases continued to decline last week, but the pace of decline slowed. Economic activity continues to recover as more states ease or eliminate restrictions. New jobless claims declined to their lowest level for the pandemic last week. Inflation increased again in May as bottleneck-sensitive categories like car rentals, used cars, airline fares, … Continued
The certified pre-owned (CPO) market performed well with 268,452 CPO units sold in May, a 4% month-over-month increase and a 13% year-over-year increase. CPO sales in May 2021 outperformed the same month in 2019 by 16,589 units. With 1,224,522 CPO units sold through May, CPO sales are up 25% versus the same time in 2020 … Continued
