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Cox Automotive Auto Market Report: November 23

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.

Five Takeaways from Latest COVID-19 Consumer Impact Study

Cox Automotive has been tracking consumer behavior throughout the pandemic to measure how vehicle purchase intenders have been reacting to changing market conditions. With COVID-19 vaccines available for more of the population and boosters rolling out, a fresh round of research was conducted last month. More than half of Americans indicated they are now “not at … Continued

Cox Automotive’s Charlie Chesbrough on How Car Dealers Can Remain Successful in Q4

Nov. 22, 2021, CBT News Inside Automotive – As we move through the final quarter of the year, you may be asking yourself what can you do to remain successful, despite the industry’s inventory and chip shortages? On today’s show, Jim Fitzpatrick is pleased to welcome back Charlie Chesbrough, Senior Economist and Senior Director of Industry Insights … Continued

Used-Vehicle Inventory Edges Higher; Average Price Just Shy of $27,000

Used-vehicle inventory edged slightly higher in October as the average listing price kept climbing, now just shy of $27,000, according to the Cox Automotive analysis of vAuto Available Inventory data. 2.30M Total UnsoldUsed Vehiclesend of October 42 Days’ Supply $26,971 Average Listing Price 68,132 Average Mileage The total supply of unsold used vehicles on dealer … Continued

Auto Market Weekly Summary

The trend in new daily COVID-19 cases accelerated higher last week, and consumer sentiment lost ground. Retail sales were much stronger than expected in October as consumers keep spending despite higher prices. Inflation did play a role in the spending, but even controlling for price increases, retail sales exceeded expectations. New construction trends were mixed … Continued

Dealership Service Activity Increases in October, according to Xtime Metrics

Service centers at U.S. franchised dealerships were generally busier in October than in September, according to the latest analysis of Xtime metrics. Both the Repair Order Volume Index and Repair Order Revenue Index increased in October versus September, although the repair order volume continues to be below pre-pandemic levels. Revenue per repair reached a record … Continued

Nearly a Quarter of All Shoppers Considered Electrified Vehicles in Q3

Nearly a quarter of all new-vehicle shoppers in the third quarter considered an electrified vehicle, either a full electric vehicle or a hybrid, according to the Q3 2021 Kelley Blue Book Brand Watch report. That is the highest level of interest in electrified vehicles that the report has ever measured. The report is a consumer … Continued

New-Vehicle Supply Edges Higher Suggesting Worst of Shortages Over

Still low by historical standards, new-vehicle supply closed higher at the end of October than a month earlier, while the average listing price hit another record high, closing in on $45,000, according to a Cox Automotive analysis of vAuto Available Inventory data. 969,464 Total Inventoryas of Oct. 25, 2021 33 Days’ Supply $44,680 Average Listing … Continued

Wholesale Prices Rise Halfway Through November

Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 4.9% in the first 15 days of November compared to the month of October. This brought the Manheim Used Vehicle Value Index to 234.8, a 44.9% increase from November 2020. As was the case in October, some of the monthly increase is … Continued

13-Month Rolling Used-Vehicle SAAR

Total used-vehicle sales were down 10% year over year in October, according to Cox Automotive estimates. This brought the seasonally adjusted annual rate (SAAR) of sales to 35.8 million*, down from 39.9 million last October and flat compared to September’s 35.8 million SAAR. Total used-vehicle sales volume last month was estimated at 2.9 million, marginally … Continued