Cox Automotive’s Auto Market Report video delivers a comprehensive analysis of the current automotive market. Chief Economist Jonathan Smoke leads our effort to translate data and trends into actionable insights. In this biweekly video, he covers a wide range of topics, including consumer spending patterns, consumer sentiment, retail vehicle sales, financing rates, supply dynamics, pricing … Continued
The 2024 Cox Automotive Mid-Year Review will be held on Tuesday, June 25, at 11 a.m. EDT. The presentation is available for download. Join Cox Automotive Chief Economist Jonathan Smoke, Senior Economist Charlie Chesbrough, and the Economic and Industry Insights team for the 2024 Mid-Year Review. Our experts and analysts will review how the auto industry performed in … Continued
Despite immense challenges during the pandemic and microchip shortage years, dealers will acknowledge it was the best time to be in the new car business, akin to an unforgettable college rager. They enjoyed an unprecedented financial boom, with return on sales soaring from 2% to over 6% at most publicly traded auto groups. To put … Continued
Highlights Retail Sales The initial report for May indicated weaker-than-expected consumer spending, with motor vehicles and parts categories outperforming the rest. Residential Construction Residential construction trends for May were weaker than expected with a decline in the seasonally adjusted annualized rate of starts of 5.5%. Existing Home Sales Existing home sales saw a decline of … Continued
Welcome to the monthly Manheim Market Insights update. Jeremy Robb, senior director of Economic and Industry Insights at Cox Automotive, offers a monthly check-in on what we are seeing in the used wholesale and retail markets, all through the wide lens of the data available from Cox Automotive. This month’s video highlights the mid-month Manheim Used Vehicle … Continued
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 0.3% from May in the first 15 days of June. The mid-month Manheim Used Vehicle Value Index fell to 196.8, which was down 8.5% from the full month of June 2023. The seasonal adjustment lessened the impact for the month. The non-adjusted price … Continued
New-vehicle affordability improved in May, more than reversing April’s setback, according to the Cox Automotive/Moody’s Analytics Vehicle Affordability Index. “The improvement in affordability was a result of improving incentives, lower interest rates and ongoing income growth,” said Cox Automotive Chief Economist Jonathan Smoke. The estimated average auto loan rate declined in May by 22 basis points … Continued
Highlights Inflation and Interest Rates The Consumer Price Index (CPI) in May showed no change from April but was up 3.3% from one year ago. Expectations were higher, with a 0.1% increase from April and 3.4% from last May forecasted. Core CPI, which excludes volatile food and energy prices, increased 0.2% from April and 3.4% … Continued
According to an analysis of Cox Automotive’s vAuto Live Market View data estimates, retail used-vehicle sales in May increased from April and were up by 15.9% month over month. A total of 1.62 million used vehicles were sold at retail – from both franchised and independent dealers – during May, up 15.8% year over year. Days’ supply … Continued
Used-vehicle inventory levels at the start of June were slightly lower than in May, according to an analysis of Cox Automotive’s vAuto Live Market View data, as sales picked back up in May after a slowdown in April following an unexceptional tax refund season. 2.26M Total UnsoldUsed Vehiclesas of June 3, 2024 45 Days’ Supply $25,670 Average … Continued
