Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 1.0% from June in the first 15 days of July. The midmonth Manheim Used Vehicle Value Index dropped to 213.1, which was down 11.1% from the full month of July 2022. The seasonal adjustment mitigated the decline. The non-adjusted price change in the … Continued
Certified pre-owned (CPO) sales in June rose 8.4%, over 17,000 units, over last June to finish at 223,718. This total is up over 4,000 units, a nearly 2% increase from May’s number. CPO sales year to date remain up 6.4%, or over 78,000 units, compared to the first six months of 2022, which was a … Continued
Year-over-year inflation declined again in June, and the monthly increase in core prices is finally decelerating. Headline inflation was down to 3.1% year-over-year in June, the lowest level since March 2021. Compared to last year, used-vehicle sales performance improved in June for the best year-over-year performance since March. However, wholesale used vehicle values fell again … Continued
New-vehicle affordability was unchanged in June, according to the Cox Automotive/Moody’s Analytics Vehicle Affordability Index. Strong income growth helped to offset higher prices and slightly higher rates. Higher prices and rates caused the typical payment to increase somewhat from May, which was the lowest payment since October. The number of median weeks of income needed … Continued
The used-vehicle market has shed the volatility seen during the pandemic and chip shortage, with inventory and prices holding rather steady, according to a Cox Automotive analysis of vAuto Available Inventory data. 2.22M Total UnsoldUsed Vehiclesas of June 26, 2023 47 Days’ Supply $27,147 Average Listing Price 71,431 Average Mileage The total supply of unsold … Continued
ATLANTA – July 14, 2023 – After a successful launch and aggressive expansion in the eastern U.S., Cox Automotive has now enabled sellers in California to join in the Upside™ wholesale experience. This significant expansion brings on sellers throughout California, making it easier for buyers in the western half of the country to find attractive … Continued
Updated, Aug. 10, 2023 – New-vehicle inventory and prices continued to stabilize in June while electric vehicle inventory climbed, closing the month with twice the days’ supply as new vehicles in total, according to Cox Automotive’s analysis of vAuto Available Inventory data. 1.98M Total Inventoryas of July 3, 2023 56 Days’ Supply $47,162 Average Listing … Continued
Nearly 300,000 new electric vehicles (EVs) – full battery-electric vehicles – were sold in the U.S. in Q2, a record for any quarter and an increase of 48.4% from Q2 2022. Tesla, again, was the largest seller of EVs in the U.S., with more than 175,000 sold, an increase of 34.8% quarter over quarter. Sales … Continued
ATLANTA, July 11, 2023 – The average price Americans paid for a new vehicle in June 2023 was 1.6% higher than one year ago, the smallest year-over-year price increase since the start of the global pandemic. According to Kelley Blue Book, a Cox Automotive company, the average transaction price (ATP) of a new vehicle in … Continued
A replay of the Q2 2023 Manheim Used Vehicle Value Index Call held on Monday, July 10, is available below. Cox Automotive Chief Economist Jonathan Smoke and Chris Frey, senior manager of Economic and Industry Insights for Cox Automotive, discussed the latest Manheim Used Vehicle Value Index and the major economic and industry trends that … Continued