Certified pre-owned (CPO) sales reached 228,237 in December, up 1.3% year over year, with an increase of nearly 3,000 units from December 2022. This represents a significant month-over-month increase, with CPO sales growing by 22,374 units or 10.9%. “Unlike overall…
Access to auto credit declined in December as credit tightened across most channels and across all lender types, according to the Dealertrack Auto Credit Availability Index. The All-Loans Index declined in November and dropped another 0.9% to 94.0 in December,…
Starting in January 2024, Cox Automotive aligned its monthly used-vehicle sales reporting to vAuto used retail data. A monthly post will be published using vAuto Live Market Live data and can be found within the used-vehicle sales tag. According to…
The affordability of new vehicles showed a modest decline in December compared to the previous month due to mixed trends. However, new-vehicle affordability improved year over year, according to the Cox Automotive/Moody’s Analytics Vehicle Affordability Index. “Due to an increase…
Used-vehicle prices declined again in December while used-vehicle retail sales improved. Lower prices create demand for affordability-challenged consumers. Inflation, according to the Consumer Price Index, reaccelerated modestly in December. Headline inflation increased to 3.4% from 3.1% in November. Consumer credit…
Despite our industry’s strong start in the first half of 2023, we experienced some challenges during the second half of the year due to rising interest rates, tight vehicle supplies and a weakened economy. Much of this was beyond our…
ATLANTA and INDIANAPOLIS, Ind., Jan. 11, 2024 – Cox Automotive proudly announces ‘Project Pink,’ an innovative initiative to celebrate diversity among its Fleet Services and Manheim technicians and support breast cancer awareness. Project Pink is a groundbreaking campaign that features…
ATLANTA, Jan. 10, 2024 – The U.S. new-vehicle average transaction price in December 2023 was $48,759, an increase of 1.3% month over month but down 2.4% year over year, according to data released today from Kelley Blue Book, a Cox Automotive…
A record 1.2 million U.S. vehicle buyers chose to go electric last year, according to estimates from Kelley Blue Book, a Cox Automotive company. More specifically, 1,189,051 new electric vehicles (EVs) were put into service as the slow shift to…
A replay of the 2024 Cox Automotive Industry Insights webcast held on Monday, January 8, is available below. Jonathan Smoke and the Industry Insights team provided a comprehensive update on the automotive industry for the new year. This session covered the…
