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…
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…
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…
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…
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…
American Honda Motor, plagued with supply chain issues for most of 2022, is on the rebound with increased production and vehicle inventory on dealer lots leading to a significant leap in U.S. sales for the first quarter of its 2024…
Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) decreased 1.6% in July from June. The Manheim Used Vehicle Value Index (MUVVI) declined to 211.7, down 11.6% from a year ago. “The July drop of 1.6% is an…
The July employment report showed further slowing in job creation. Initial jobless claims declined, though they are higher than before the pandemic. The historically low unemployment rate declined further. Average hourly earnings growth also stayed strong. The labor market is…
Sales into large fleets, not including sales into dealer and manufacturer fleets, increased 34.5% year over year in July to 171,464 units, according to an early estimate from Cox Automotive sources. July fleet volume rebounded to less than 2% below…
Hyundai Motor Company, which includes the Hyundai, Kia and Genesis brands, had a stellar second quarter in the U.S. despite low inventories, particularly Kia. The automaker boosted incentives to over $1,000, while average transaction prices were up incrementally compared with…
