Revised, March 16, 2023 – New-vehicle inventory edged lower in January from December but remained significantly higher than a year ago, according to Cox Automotive’s analysis of vAuto Available Inventory data. 1.75M Total Inventoryas of Jan. 23, 2023 58 Days’ Supply $47,521 Average Listing Price The total U.S. supply of available unsold new vehicles stood … Continued
New-vehicle affordability improved for the first time in 6 months in January, according to the Cox Automotive/Moody’s Analytics Vehicle Affordability Index. Declining new-vehicle prices, increasing incentives and improving incomes offset challenges from auto loan rates reaching a new 20-year high. The number of median weeks of income needed to purchase the average new vehicle in January … Continued
Certified pre-owned (CPO) sales in January rose 21.5%, nearly 36,000 units, over last January to finish at 202,074. This total is down month over month by over 23,000 units, or down 10%, compared to December 2022. January CPO sales typically show a decline month over month. January CPO Sales Used retail sales in January are … 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 9, Cox Automotive Manager of Economic and Industry Insights Mirlene Jean-Simon is joined by Rebecca Rydzewski, research manager, … Continued
ATLANTA, Feb. 13, 2023 – The average transaction price (ATP) of a new vehicle in the U.S. declined slightly in January 2023 to $49,388, a decrease of 0.6% ($310) from December’s record high and up 5.9% ($2,768) from levels one year earlier. New-vehicle inventory levels are increasing from historic lows in early 2022, but prices remain elevated, according to data released today … Continued
The Business News, Feb. 13, 2023 – In this article, Chief Operating Officer Adam Gaedke at Van Horn Automotive Group explains how the dealership has gone above and beyond to embrace e-commerce. He highlights how the 57-year-old automotive group has been “ahead of the curve“ by being one of the first to put vehicles on … Continued
Used retail-vehicle sales increased in January and were up from a year ago. Wholesale vehicle values also increased in January. Auto loan performance deteriorated further in January as both severe delinquencies and defaults grew. The severe delinquency rate is the highest we have seen, but the default rate is still below levels seen in 2019. … Continued
Auto Remarketing, Feb. 10, 2023 – Grace Huang, president of Cox Automotive Inventory Solutions, writes in an opinion piece about three key areas that she believes offer the greatest opportunity for the wholesale industry to prepare for what lies ahead. These three areas include:
Access to auto credit tightened again in January, according to the Dealertrack Credit Availability Index for all types of auto loans. The All-Loans Index declined 1% to 98.0 in January, reflecting that auto credit was harder to get in the month compared to December. The decline in access reflected conditions that were tightest since June … Continued