Revised, July 13, 2023 – New-vehicle inventory in May reached its highest level in two years, according to Cox Automotive’s analysis of vAuto Available Inventory data, with a notable increase from the previous month. Days of supply increased due to…
New-vehicle affordability improved slightly again in May. Strong income growth helped to offset modestly higher prices and slightly higher rates. Higher prices and rates caused the typical payment to increase slightly from what had been the lowest payment in April…
The Fed did not raise rates today, which was widely expected. This was the first meeting without an increase after 10 straight increases. However, the Fed avoided calling it a pause or the end of rate increases and set a…
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 13, Cox Automotive…
Used-vehicle sales volumes were stable in May relative to April, but they were off from the normal seasonal pattern, which is to see growth. Volumes were down 11% year-to-year, the worst performance so far this year. Wholesale used vehicle values…
ATLANTA, June 12, 2023 – The average price Americans paid for a new vehicle in May remained below the manufacturer’s suggested retail price (MSRP) for the fifth consecutive month, according to data released today by Kelley Blue Book, a Cox…
Access to auto credit tightened again in May, according to the Dealertrack Credit Availability Index for all types of auto loans. Following tightening across all channels and all lender types in April, credit availability declined again in May in most…
Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) decreased 2.7% in May from April. The Manheim Used Vehicle Value Index (MUVVI) declined to 224.5, down 7.6% from a year ago. “Price erosion continued in May, with another…
In the complex and dynamic automotive market, reliable data and smart insights provide a critical map for the road ahead. The Cox Automotive Economic and Industry Insights team strives to collect, analyze and share the best information possible, pulling from numerous…
ATLANTA, June 7, 2023 – Overall dealer sentiment in the U.S. improved slightly in Q2 2023, according to the quarterly Cox Automotive Dealer Sentiment Index released today. The current market index is now at 45, up from 43 in Q1…
