In addition to crowning the Kansas City Chiefs national champions, Sunday’s Super Bowl reminded us of two truths: First, television advertising is far from dead. Second, when people see a vehicle they want or want to know more about, they put down the nachos and go to the internet. Cox Automotive’s Autotrader and Kelley Blue … Continued
It was good to be back in Las Vegas for NADA 2024, which included my first trip to the Sphere to see U2. The pre-show DJ must have known the venue was packed with auto industry leaders when he rode around the crowd in an elevated faux car playing The Beatle’s hit “Drive My Car.” But … Continued
ATLANTA, Feb. 12, 2024 – The U.S. new-vehicle market sales pace slowed in January 2024, despite lower prices and higher incentives. According to an analysis by Kelley Blue Book, a Cox Automotive company, the U.S. new-vehicle average transaction price (ATP) last month in the U.S. was $47,401, down 2.6% from December 2023 and down a remarkable … Continued
New-vehicle prices fell in January with weaker retail demand. Incentives relative to price reached the highest level since July 2021. Discounting relative to the manufacturer’s suggested retail price (MSRP) has decreased slightly to nearly half of what it was in 2019 after being nonexistent a year ago. Used-vehicle prices were flat again in January, as … Continued
Access to auto credit declined in January as credit tightened across all channels and across most lender types compared to December, according to the Dealertrack Credit Availability Index. The All-Loans Index declined to 93.0 in January, down 3% year over year. The Dealertrack Auto Credit Total Loan Index had shown some improvements during the summer … Continued
Strong U.S. sales in the waning months of 2023 should help lift Honda Motor Co.’s fortunes when it reports quarterly financial results February 8. In the quarter ended September 30, Honda Motor in Japan posted profits up by a third, prompting it to raise its forecast for the fiscal year that ends March 31. Much … Continued
Nissan Motor in Japan reports financial results for the October-to-December quarter February 8 and hopes to repeat the previous quarter’s performance, which featured a sharp 25% increase in profits on sales growth in most markets. The results exceeded analysts’ projections and prompted the Japanese automaker to raise its forecast for the full fiscal year that … Continued
Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) were unchanged in January compared to December. The Manheim Used Vehicle Value Index (MUVVI) remained at 204.0 but down 9.2% from a year ago. The index experienced the same 0.0% monthly change from December 2021 to January 2022. “With the volatility we saw last … 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
Toyota Motor is expected to post a hefty increase in quarterly earnings and revenues when it reports financial results on Feb. 6, thanks to a rebound in production following the global computer chip shortage. The October to December 2023 period is the Japanese automaker’s third quarter of its fiscal year 2024, which ends March 31. … Continued