December opened with new-vehicle inventory at the highest level since early spring of 2021, according to Cox Automotive’s analysis of vAuto Available Inventory data. Supply surpassed 2.5 million units and 71 days’ supply for the first time in two years.…
As expected, the Fed left interest rates and overall monetary policy unchanged today. We have now had three straight meetings with no change in rate policy. The biggest changes from the Fed are in words and forecasts. Financial markets have…
ATLANTA, Dec. 11, 2023 – The U.S. new-vehicle average transaction price in November 2023 was $48,247, an increase of less than 1% month over month and down year over year by 1.5%, according to data released today from Kelley Blue Book,…
According to the Dealertrack Auto Credit Availability Index for all types of auto loans, access to auto credit worsened in November. Following loosening across all channels and all lender types for most of the fall months, credit access is expected…
Job growth in November improved modestly, about as expected. Labor force participation grew, and the unemployment rate declined while wage inflation was stable at the lowest level since June 2021. The Fed’s efforts to slow the economy and a “soft…
ATLANTA, Dec. 7, 2023 – The Cox Automotive Dealer Sentiment Index (CADSI) reveals a significant decrease in U.S. auto dealer sentiment in Q4 2023 compared to Q3. This decline is attributed to the ongoing adverse effects of high interest rates…
Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) decreased 2.1% in November from October. The Manheim Used Vehicle Value Index (MUVVI) dropped to 205.0, down 5.8% from a year ago. “While November’s decline was only slightly less…
In November, sales into large rental, commercial, and government fleets decreased compared to the previous year. An analysis of Bobit’s data by Cox Automotive revealed that there was an 8.9% drop in sales to large fleets (excluding dealer and manufacturer…
ATLANTA, Dec. 5, 2023 – New research released by Cox Automotive today on the U.S. vehicle service industry shows that franchised dealerships continue to lose share to general repair shops. In the latest report – Under the Hood: Opportunities and…
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…
