We are now seeing a downward trend in new daily COVID-19 cases. The pandemic risk remains at the highest level for much of the country, but conditions should improve in coming weeks. The trailing data on jobless claims is tracking…
Sales of certified pre-owned (CPO) vehicles declined 2% year over year in December and were up 24% month over month compared to November, reflecting a normalizing market coming off of a resilient performance in the summer and fall months. For…
Affordability improved in December, as represented by median weeks of income needed to purchase a new vehicle declined to 32.2 weeks from 33.8 weeks in November. The index was below the mid-point for the extreme highs and lows experienced in…
Access to auto credit improved modestly in December according to the Dealertrack Auto Credit Availability Index for all types of auto loans. The All Loans Index improved 0.1% to 94.9 in December, reflecting that auto credit was slightly easier to get in the month. However, access remains tighter by 5.0% year over year…
New-vehicle inventory held steady heading into the new year, while the average listing price soared past the $40,000 mark throughout December, according to a Cox Automotive analysis of vAuto Available Inventory data. 3M Total Inventory 70 Days’ Supply $40,684 Average…
In December, 165,713 total fleet units were sold, compared to 132,145 in November. Combined sales into large rental, commercial, and government buyers were down 25% year over year in December. Government units were up 3% year over year, on a…
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…
During the Cox Automotive Industry Insights 2021 Webcast held on Friday, January 8, Cox Automotive Chief Economist Jonathan Smoke was joined by Charlie Chesbrough, senior economist, and others. During this 90-minute session, they give a deep dive into the economy and auto…
Last week saw continued growth in COVID-19 cases. We are likely to hit new records and an eventual peak in daily cases in the next seven to 10 days. The rise in COVID-19 cases in December resulted in job losses…
Predicting the future has long been a hazardous business, as crystal balls are more often anything but crystal clear. Indeed, consider any forecast offered in January 2020: An economy-crashing pandemic was not in the cards. Still, as we face a…
