The supply of used vehicles is lean as the spring selling season kicked off early and briskly this year, according to the Cox Automotive analysis of vAuto Available Inventory data. 2.07M Total UnsoldUsed Vehiclesas of Feb. 27, 2023 41 Days’ Supply $26,068 Average Listing Price 70,220 Average Mileage “Used-vehicle sales have been up significantly, causing … Continued
New-vehicle affordability improved again in February following modest improvement in January, according to the Cox Automotive/Moody’s Analytics Vehicle Affordability Index. All factors helped as declining new-vehicle prices, increasing incentives, improving incomes and slightly lower average new auto loan rate, as calculated by Moody’s Analytics, reduced the average monthly payment for a new vehicle to the lowest … Continued
Revised, April 13, 2023 – New-vehicle supply closed February higher than it ended January despite surprisingly strong sales, according to Cox Automotive’s analysis of vAuto Available Inventory data. The average listing price edged lower. 1.80M Total Inventoryas of Feb. 27, 2023 57 Days’ Supply $47,257 Average Listing Price The total U.S. supply of available unsold … 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
After a strong January, certified pre-owned (CPO) sales in February rose another 1.9% month over month to finish at 205,946, up nearly 3,900 units. This total is up 7.3%, or over 14,000 units, compared to last February. February CPO Sales Used retail sales in February are estimated to be up 3.5% year over year finishing … Continued
In this Used Car Dealer Podcast episode, Zach Klempf interviews Dale Pollak, Founder, vAuto and EVP, Cox Automotive. Dale discusses trends in the used vehicle market, as well as why now is the time for dealers to move from Velocity to Variable Management. He also touches on how vAuto’s ProfitTime GPS helps dealers implement a variable inventory … Continued
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 10, Cox Automotive Manager of Economic and Industry Insights Mirlene Jean-Simon is joined by Michelle Krebs, executive analyst, … Continued
Job growth in February decelerated but was still stronger than expected. The unemployment rate increased, and wage growth decelerated. Jobless claims are rising again. Continuing claims are fast approaching the highest level in over a year. However, claims remain at historically low levels relative to the job base. Tax refund season is well ahead of … Continued
Access to auto credit loosened modestly in February, according to the Dealertrack Credit Availability Index for all types of auto loans. The All-Loans Index increased 0.9% to 98.1 in February, reflecting that auto credit was easier to get in the month compared to January. Even with the increase in February, access was tighter by 4.4% … Continued
ATLANTA, March 9, 2023 – U.S. automobile dealer sentiment in the first quarter of 2023 was little changed from the level recorded in Q4 2022 and remains at the lowest level since the height of the global COVID-19 pandemic, according to the Cox Automotive Dealer Sentiment Index (CADSI). At 43, the current market index is below … Continued