Access to auto credit tightened in April, according to the Dealertrack Credit Availability Index for all types of auto loans. Following varied moves in vehicle channels and by lender in March, credit access tightened across all channels and all lender types in April. The All-Loans Index declined 1.5% to 96.8 in April, the lowest reading … Continued
ATLANTA, May 9, 2023 – The average price Americans paid for a new vehicle in April remained below the manufacturer’s suggested retail price (MSRP) for the second consecutive month, according to data released today by Kelley Blue Book, a Cox Automotive company. The average transaction price (ATP) of a new vehicle in the U.S. remained … Continued
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
The most recent quarter was an eventful one for Nissan Motor Corp., as it altered its alliance with French automaker Renault and began charting a new direction. Nissan Motor Corporation, the third-largest automaker in Japan, reports financial results on Thursday, May 11, for the January-March period, Nissan’s fourth quarter of its fiscal year 2022, which … Continued
Honda Motor Company has struggled with chip shortages and COVID outbreaks that have hampered production. In February, the Japanese automaker said the chip shortage was bottoming out but would probably drag on through the second half of this year. Financial results for the quarter that ended March 31, the end of Honda’s fiscal year, are … Continued
Cox Automotive released today new consumer research that suggests automakers may face challenges if they expect to generate significant revenue from subscription-type features, also known as Features on Demand (FoD). The Research & Market Intelligence team at Cox Automotive understands the importance of the trend toward Features on Demand, and the new study “Software Monetization: … Continued
Toyota Motor Corporation posts financial results for the January-to-March quarter on Wednesday, May 10, the automaker’s fourth quarter of its 2022 fiscal year. Like its Asian competitors, Toyota Motor North America has had one of the lowest inventory levels in the U.S. for the past year, including the most recent quarter. Throughout the past calendar … Continued
The latest employment report represented strong and improving labor market conditions, which was unexpected. Job growth in April accelerated, the unemployment rate declined, and wage growth accelerated. All major industry sectors added jobs in April, but services represented most of the gains. The labor market remains strong despite the Fed tightening monetary conditions and credit … Continued
Sales into large fleets, not including sales into dealer and manufacturer fleets, increased 38.6% year over year in April to 214,362 units, according to an early estimate from Cox Automotive. Combined sales into large rental, commercial, and government fleets have seen nine consecutive months of double-digit, year-over-year increases. Sales into rental fleets were up 64.4% … Continued
Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) decreased 3.0% in April from March. The Manheim Used Vehicle Value Index (MUVVI) dropped to 230.8, down 4.4% from a year ago. “While values increased 8.6% through the first quarter from December, the market has reversed course in April, with our monthly figures showing … Continued