General Motors’ higher vehicle sales and strong ATPs are expected to produce improved financial results from a year ago, when the automaker reports second-quarter earnings before the stock market opens on Tuesday, July 25. Wall Street analysts have been upping their forecast for GM’s results throughout the second quarter and say they will not be … Continued
Welcome to the monthly Manheim Market Insights update. This month, Chris Frey, senior manager 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 … Continued
The initial retail sales report for June was mixed, with upward revisions to May but weaker-than-expected growth in June. Adjusted for inflation, retail sales were unchanged for the month. Existing home sales declined more than expected in June. Supply continues to limit what is possible for sales. Residential construction starts declined in June, reversing a … Continued
A recent analysis by Cox Automotive of Xtime metrics revealed that service activity increased again at franchised dealerships in the U.S. in June compared to the previous month. Meanwhile, service revenue decreased just slightly for the second month, off its previous record highs set in the spring. The Repair Order Volume Index is down year … 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
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 1.0% from June in the first 15 days of July. The midmonth Manheim Used Vehicle Value Index dropped to 213.1, which was down 11.1% from the full month of July 2022. The seasonal adjustment mitigated the decline. The non-adjusted price change in the … Continued
Certified pre-owned (CPO) sales in June rose 8.4%, over 17,000 units, over last June to finish at 223,718. This total is up over 4,000 units, a nearly 2% increase from May’s number. CPO sales year to date remain up 6.4%, or over 78,000 units, compared to the first six months of 2022, which was a … Continued
Year-over-year inflation declined again in June, and the monthly increase in core prices is finally decelerating. Headline inflation was down to 3.1% year-over-year in June, the lowest level since March 2021. Compared to last year, used-vehicle sales performance improved in June for the best year-over-year performance since March. However, wholesale used vehicle values fell again … Continued
New-vehicle affordability was unchanged in June, according to the Cox Automotive/Moody’s Analytics Vehicle Affordability Index. Strong income growth helped to offset higher prices and slightly higher rates. Higher prices and rates caused the typical payment to increase somewhat from May, which was the lowest payment since October. The number of median weeks of income needed … Continued
The used-vehicle market has shed the volatility seen during the pandemic and chip shortage, with inventory and prices holding rather steady, according to a Cox Automotive analysis of vAuto Available Inventory data. 2.22M Total UnsoldUsed Vehiclesas of June 26, 2023 47 Days’ Supply $27,147 Average Listing Price 71,431 Average Mileage The total supply of unsold … Continued
