According to vAuto Live Market View data estimates, retail used-vehicle sales in March increased from February and were up by 18.5% month over month. A total of 1.66 million used vehicles were sold at retail – from both franchised and independent dealers – during March, up 10.9% year over year and the highest volume since March … Continued
Trends in new-vehicle affordability factors moved in support of consumers again in March, according to the Cox Automotive/Moody’s Analytics Vehicle Affordability Index. “The positive moves were assisted by the first material decline in interest rates in over two years,” said Cox Automotive Chief Economist Jonathan Smoke. “However, given the move-up in rates so far in … Continued
Highlights: Headline Inflation Hits Highest Level Since September Headline inflation continues to run hotter than expected. In March, inflation grew at the same pace as February, according to the Consumer Price Index (CPI). The headline aggregate measure increased 0.4% on a seasonally adjusted basis and marked three months of higher-than-expected increases. The core CPI, which … Continued
Scott McMahon, alliance manager for Automotive Partnerships at Equifax, leads a panel discussion on current trends, the rising challenge of fraud in the automotive space, and the industry’s outlook, with a special focus on consumer affordability and the evolving electric vehicle (EV) market. His esteemed panel includes Steve Greenfield, general partner at Automotive Ventures; Marguerite … Continued
ATLANTA, April 12, 2024 – New-vehicle transaction prices (ATP) in March 2024 held mostly steady, according to an analysis by Kelley Blue Book, down 1% from the revised February ATP. Last month, the average transaction price of a new vehicle in the U.S. was $47,218, down 1% from March 2023 and down 5.4% from the market … Continued
Electric vehicle (EV) sales growth in the U.S. continues to slow, according to sales data analyzed by Kelley Blue Book. In the first quarter of 2024, Americans bought 268,909 new electric vehicles, according to Kelley Blue Book counts. EV share of total new-vehicle sales in Q1 was 7.3%, a decrease from Q4 2023. While annual … Continued
Access to auto credit improved in March as credit loosened across all channels and all lender types compared to February, according to the Dealertrack Credit Availability Index. The All-Loans Index increased to 94.0 in March but remained down 1.5% year over year. Credit availability has improved for two consecutive months and rose 1.1% month over … Continued
SANTA CLARA, Calif., April 10, 2024 – In 2023, 1.2 million U.S. vehicle buyers chose to go electric, according to Kelley Blue Book, a Cox Automotive brand. For electric vehicle (EV) owners certain factors, like home-charging ability and easy access to charging facilities are necessary for smooth EV ownership. A new report from Realtor.com® and Cox Automotive has uncovered the top housing markets … Continued
A replay of the Q1 2024 Manheim Used Vehicle Value Index Call held on Friday, April 5, is available below. Cox Automotive Chief Economist Jonathan Smoke, Jeremy Robb, senior director of Economic and Industry Insights, and Scott Vanner, Economic and Industry Insights senior analyst, discussed the latest Manheim Used Vehicle Value Index and the major … Continued
Job growth in March accelerated and was stronger than expected. The three-month average for job creation is at the highest level in 11 months, while the unemployment rate declined. Wage growth accelerated modestly in March. The labor market remains strong. New-vehicle sales slowed in March despite growth in discounting and incentives. Used-vehicle sales improved in … Continued
