The estimated average transaction price for a light vehicle in the United States was $40,472 in March 2021, according to the valuation analysts at Kelley Blue Book. New-vehicle prices increased $1,660 (up 4.3%) from March 2020, while falling $608 (down 1.5%) from February 2021. For the fifth straight month, affordability improved in March, according to the Cox Automotive/Moody’s…
For the fifth straight month, affordability improved in March, according to the Cox Automotive/Moody’s Analytics Vehicle Affordability Index. The number of median weeks of income needed to purchase a new vehicle declined to 31.8 weeks from an upwardly revised 32…
Q1 2021 was big for electrified vehicles. In all, electrified vehicles – the combined total of EVs, hybrids and plug-in hybrids – accounted for 7.8% of the total sales last quarter, up from 4.8% in the same period one year…
Robust March sales rapidly drew down new-vehicle inventory to the lowest levels in some time just as the spring selling season got rolling, according to a Cox Automotive analysis of vAuto Available Inventory data. 2.66M Total Inventory 59 Days’ Supply…
The certified pre-owned (CPO) market had a record-breaking month in March by setting a historic high. For March, 286,061 CPO units were sold, beating the last record high set in March 2019 of 265,878 units. Sales of CPO vehicles increased…
Access to auto credit increased again in March, and auto loan credit was the most accessible since April 2020, according to the Dealertrack Auto Credit Availability Index for all types of auto loans. The All Loans Index increased 2.5% to 98.1 in March, reflecting that auto credit was easier to get in the month compared to February. Access remains tighter by 0.7% year over year. All…
The trend in new daily COVID-19 cases stopped increasing this week after two weeks of growth. Improving conditions are leading to rollbacks of restrictions, and economic activity is picking up. However, the jobless claims data last week were again mixed.…
In March, 183,042 total fleet units were sold, compared to 178,252 in February and 229,725 last March, a 2.7% month-over-month improvement. Combined sales into large rental, commercial, and government buyers were down 20.3% year over year in March. This brings…
A replay of the Q1 2021 Manheim Used Vehicle Value Index Call hosted by Cox Automotive Chief Economist Jonathan Smoke and Zo Rahim, manager of economic and industry insights for Cox Automotive, is available below. Scott Maybee, president, NextGear Capital,…
ATLANTA (April 7, 2021) – Wholesale used-vehicle prices on a mix-, mileage-, and seasonally-adjusted basis increased 5.87% month over month in March. This brought the Manheim Used Vehicle Value Index to 179.2, a 26.2% increase from a year ago and a…
