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Auto Market Weekly Summary

Headline inflation accelerated further in February, according to the Consumer Price Index (CPI). The headline aggregate measure increased on a seasonally adjusted basis and marked two months in a row of acceleration, the highest monthly increase since August. However, on a year-to-year basis, core CPI declined to the lowest since April 2021. The overall CPI … Continued

Spring Fever and Tax Refund Season Boost Used Retail Sales and Drop Days’ Supply to 44

Used-vehicle inventory opened March at the lowest level since October 2023, according to the Cox Automotive analysis of vAuto Live Market View data. 2.27M Total UnsoldUsed Vehiclesas of March 4, 2024 44 Days’ Supply $25,151 Average Listing Price 70,053 Average Mileage The total supply of unsold used vehicles on dealer lots – franchised and independent … Continued

February New-Vehicle Affordability Best in 31 Months

Trends in new-vehicle affordability factors moved in a positive direction in February, leading to the best affordability in 31 months (since July 2021), according to the Cox Automotive/Moody’s Analytics Vehicle Affordability Index. “New-vehicle affordability improved in the consumer’s favor again last month,” said Cox Automotive Chief Economist Jonathan Smoke. “Income growth continued and both the average … Continued

Fleet Services by Cox Automotive Joins Forces with U.S. Army’s PaYS Program to Secure Career Opportunities for Service Members

ATLANTA and INDIANAPOLIS, March 14, 2024 – Fleet Services by Cox Automotive announced its commitment to the U.S. Army’s Partnership for Your Success (PaYS) Program, helping soldiers prepare for a career after the Army. The two organizations signed an official partnership agreement during a ceremony on Monday at Fleet Services by Cox Automotive in Indianapolis. … Continued

Brisk February Sales Drew Down New-Vehicle Inventory

March opened with 76 days of supply across the industry, as brisk February sales drew down new-vehicle inventory as measured in days’ supply, according to Cox Automotive’s analysis of vAuto Live Market View data. 2.74M Total Inventoryas of March 4, 2024 76 Days’ Supply $47,285 Average Listing Price The total U.S. supply of available unsold … Continued

U.S. Auto Dealer Sentiment Improves in Q1, but Current Market View Remains Weak as Profit Pressures Replace Inventory Woes

ATLANTA, March 13, 2024 – The Cox Automotive Dealer Sentiment Index (CADSI) shows that current market sentiment improved slightly in the first quarter compared to the fourth quarter of 2023, increasing from 40 to 42, but remains well below the 50 threshold, indicating most dealers see the current market as weak. The survey’s current market … Continued

DealShield® Crosses Major Milestone Fueled by Ongoing Dealer Demand and Satisfaction

ATLANTA – March 12, 2024 – DealShield®, the wholesale industry’s best purchase protection solution, has surpassed a major milestone: $80 billion in vehicle value guaranteed since launching nationally 10 years ago. That’s more than 4.5 million vehicles dealers have purchased with the utmost peace of mind—and it’s no wonder why. With its truly hassle-free return experience, the DS360 … Continued

New-Vehicle Average Transaction Prices Retreat for Second Straight Month, According to Latest Kelley Blue Book Estimates

ATLANTA, March 11, 2024 – New-vehicle transaction prices (ATP) in February 2024 held mostly steady, according to an analysis by Kelley Blue Book, falling less than one-tenth of 1% from the revised January ATP. The average transaction price of a new vehicle in the U.S. last month was $47,244, down 2.2% from February 2023 and down … Continued

Auto Market Weekly Summary

Job growth in February accelerated and was stronger than expected, but prior job numbers were revised down substantially. Some metrics indicate weakening – like the downward revisions, slower wage growth, and higher unemployment rate. However, the three-month average for job creation is at the highest pace in eight months. New-vehicle sales recovered in February from … Continued

Wholesale Used-Vehicle Prices Declined in February

Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) were down in February compared to January. The Manheim Used Vehicle Value Index (MUVVI) fell to 203.8, a decline of 13.1% from a year ago. The index was down 0.1% against the month of January 2024. The seasonal adjustment magnified February’s results. The non-adjusted … Continued