Certified pre-owned (CPO) sales rose by over 24,700 units year over year in July to finish at 231,128. This total is up more than 7,400 units from June’s number. Year-to-date CPO sales remain up 7%, or over 103,000 units, compared to the first seven months of 2022, which was a down year for the CPO … Continued
Continuing a trend that has persisted for most of this year, new-vehicle affordability improved in July, according to the Cox Automotive/Moody’s Analytics Vehicle Affordability Index. Strong income growth was assisted by lower prices and higher incentives that more than offset slightly higher rates. The typical monthly payment declined to the lowest level since October. The … 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
The Cox Automotive Monthly Industry Update is produced by the Cox Automotive Economic and Industry Insights team with the goal of providing a holistic look at the auto industry’s performance each month in video format. In Episode 14, Cox Automotive Manager of Economic and Industry Insights Mirlene Jean-Simon is joined by Rebecca Rydzewski, research manager, … Continued
Year-over-year inflation increased in July, but core price inflation, which is more relevant to the Fed’s assessment, continues to decline. Used-vehicle sales improved in July compared with last year for the best year-over-year performance since February. Wholesale used-vehicle values fell again in July but at a decelerating pace of decline. Consumers are tapping credit cards less … Continued
Used-vehicle inventory in July hit a new high for the year, according to the Cox Automotive analysis of vAuto Available Inventory data. And while volume reached a year-to-date high, the used-vehicle market saw prices and days’ supply decrease as sales rose for the second consecutive month. 2.25M Total UnsoldUsed Vehiclesas of July 31, 2023 45 … Continued
New-vehicle inventory at the end of July was mostly unchanged from the end of June, as production and sales remained generally balanced through the month, according to Cox Automotive’s analysis of vAuto Available Inventory data. 1.96M Total Inventoryas of July 31, 2023 56 Days’ Supply $47,048 Average Listing Price The total U.S. supply of available … Continued
Access to auto credit improved again in July, according to the Dealertrack Credit Availability Index for all types of auto loans. Following tightening across all channels and all lender types in the spring, July marked a second month of continuous improvement of credit access across all channels and lender types, except captives which had a … Continued
ATLANTA (Aug. 9, 2023) – Cox Automotive today announced the acquisition of leading onsite fleet maintenance provider Corcoran’s Mobile Services (CMS). The acquisition further expands Cox Automotive’s nationwide fleet maintenance coverage, underscoring its continued commitment to safely servicing trucks and trailers. “We thrive on delivering a seamless experience 24/7, powered by our more than 1,400 elite technicians … Continued
Correction, Aug. 16, 2023 – ATLANTA, Aug. 9, 2023 – The average price Americans paid for a new vehicle in July 2023 was 0.4% higher than one year ago, the smallest year-over-year price increase in the last decade. According to Kelley Blue Book, a Cox Automotive company, the average transaction price (ATP) of a new … Continued
