Late last month, according to data compiled by Xtime, a Cox Automotive software brand, the service department business at an average dealership was down approximately 8% from year-earlier levels. An 8% drop in business is serious but, in fact, it’s…
Used-vehicle inventory fell from January to February just as the spring selling season got off to an early start, according to a Cox Automotive analysis of vAuto Available Inventory data. 2.59M Total Unsold Used Vehicles end of February 48 Days’…
Given the ongoing turbulence in the automotive marketplace, the Cox Automotive Economic & Industry Insights team is publishing its mid-month view of the wholesale market, including wholesale prices. The posted material provides commentary and an updated look at the Manheim…
Our Chief Economist Jonathan Smoke joins us once again from his home studio in Atlanta, GA, with the latest on the impacts of COVID-19 on the automotive industry. The latest on COVID-19’s nationwide impact Continuing jobless claims and impacts by…
Sales of certified pre-owned (CPO) vehicles declined 12% year over year in February but were up 4% month over month compared to softer sales in January. In February, 209,744 CPO units were sold. The CPO market has been one of…
Affordability improved in February, as represented by median weeks of income needed to purchase a new vehicle declined to 31.7 weeks from 32.5 weeks in January. The Cox Automotive/Moody’s Analytics Vehicle Affordability Index continues to show that new vehicles have…
The downward trend in new daily COVID-19 cases continues. Improving conditions are leading to rollbacks of restrictions, and economic activity and employment are improving as a result. Traditional jobless claims are seeing gradual declines. However, pandemic assistance claims, which have…
The estimated average transaction price for a light vehicle in the United States was $41,066 in February 2021, according to the valuation analysts at Kelley Blue Book. New-vehicle prices increased $2,515 (up 6.52%) from February 2020, while falling $31 (down 0.08%) from January 2021. “Average transaction prices continue to rise year-over-year and given the economy hasn’t fully recovered…
Access to auto credit increased in February and was the most accessible since May 2020 according to the Dealertrack Auto Credit Availability Index for all types of auto loans. The All Loans Index increased 1.1% to 95.8 in February, reflecting…
New-vehicle inventory climbed through February due to slower sales caused by winter storms, but it remains lower than year-ago levels as prices keep rising, according to a Cox Automotive analysis of vAuto Available Inventory data. 2.82M Total Inventory 78 Days’…
