The latest Cox Automotive analysis of Xtime metrics shows that service activity decreased and service revenue increased month over month in February at U.S. franchised dealerships, as was the case in January. The Repair Order Revenue Index is up year over year, while the Repair Order Volume Index is down compared to February 2022. The monthly … Continued
Year-over-year inflation in aggregate declined modestly in February, but core inflation increased. Retail sales declined in February as auto sales and sales at miscellaneous store retailers declined. Adjusted for inflation, retail sales declined and were down slightly from a year ago. Residential construction increased more than expected in February. Most of the strength is in … Continued
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 1.8% from February in the first 15 days of March. The midmonth Manheim Used Vehicle Value Index rose to 238.6, which was down 2.1% from the full month of March 2022. The seasonal adjustment minimized the gains. The non-adjusted price change in the … Continued
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
