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…
ATLANTA – July 14, 2023 – After a successful launch and aggressive expansion in the eastern U.S., Cox Automotive has now enabled sellers in California to join in the Upside™ wholesale experience. This significant expansion brings on sellers throughout California,…
Updated, Aug. 10, 2023 – New-vehicle inventory and prices continued to stabilize in June while electric vehicle inventory climbed, closing the month with twice the days’ supply as new vehicles in total, according to Cox Automotive’s analysis of vAuto Available…
Nearly 300,000 new electric vehicles (EVs) – full battery-electric vehicles – were sold in the U.S. in Q2, a record for any quarter and an increase of 48.4% from Q2 2022. Tesla, again, was the largest seller of EVs in…
ATLANTA, July 11, 2023 – The average price Americans paid for a new vehicle in June 2023 was 1.6% higher than one year ago, the smallest year-over-year price increase since the start of the global pandemic. According to Kelley Blue…
A replay of the Q2 2023 Manheim Used Vehicle Value Index Call held on Monday, July 10, is available below. Cox Automotive Chief Economist Jonathan Smoke and Chris Frey, senior manager of Economic and Industry Insights for Cox Automotive, discussed…
Access to auto credit improved in June after hitting a two-year low in May, according to the Dealertrack Credit Availability Index for all types of auto loans. Following tightening that occurred this spring during the banking crisis, June marked an…
ATLANTA, July 10, 2023 – The Manheim Used Vehicle Value Index (MUVVI) declined to 215.1 in June, ending the first half of 2023 down 10.3% from a year ago. Additionally, wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted…
Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) decreased 4.2% in June from May. The Manheim Used Vehicle Value Index (MUVVI) declined to 215.1, down 10.3% from a year ago. “The 4.2% drop is among the largest…
The June employment report reflected a labor market finally starting to show signs of weakening, as June saw fewer jobs created than had been expected. Still, the unemployment rate declined to 3.6% and remains very low. Only two major industry…
