CBT News, Aug. 22, 2023 – Titling can be a complex and time-intensive part of the car purchase process. With strong sales volumes expected in the back half of the year and car buyers wanting to spend less time at the dealership, the time is now for managers to devise more efficient strategies. On this … Continued
Welcome to the monthly Manheim Market Insights update. Jeremy Robb, senior director of economic and industry insights at Cox Automotive, offers a monthly check-in on what we are seeing in the used wholesale and retail markets, all through the wide lens of the data available from Cox Automotive. This month’s video highlights the midmonth Manheim Used … Continued
A recent analysis by Cox Automotive of Xtime metrics revealed that service activity at franchised dealerships in the U.S. decreased notably in July compared to the previous month. Service revenue declined slightly for the third consecutive month after reaching record highs in March and April. The Repair Order Volume Index decreased compared to the previous … Continued
The initial retail sales report for July showed a reacceleration in consumer spending. Adjusted for inflation, retail sales increased over June and were barely down compared to a year ago. Residential construction starts appeared to increase in July, but only because June was revised down. Housing permits were little changed, while housing starts exceeded permits, … Continued
New research from Cox Automotive suggests that consumers shopping for electric pickup trucks are not all that different from their ICE-considering counterparts. In a third round of research, Cox Automotive found that the Ford F-150 Lightning is on top for shopper consideration when compared to its EV counterparts from Chevy, GMC (Hummer), Ram, Rivian and … Continued
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 0.1% from July in the first 15 days of August. The midmonth Manheim Used Vehicle Value Index rose to 212.0, which was down 7.8% from the full month of August 2022. The seasonal adjustment diminished the increase. The non-adjusted price change in the … Continued
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
