Hyundai Motor Company, which includes the Hyundai, Kia and Genesis brands, had a stellar first quarter in the U.S., with sales growth far outpacing the industry, despite low inventories, particularly for Kia. The automaker slashed incentives to historic lows, while average transaction prices held steady compared with a year ago. The U.S., where Hyundai Motor … 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
Lately, General Motors has made a habit of beating analysts’ forecasts, and it may well happen again when the Detroit automaker reports 2023 first-quarter earnings before the stock market opens Tuesday, April 25. Analysts expect GM earnings to be lower than the year-ago quarter even with higher revenues, but they admit an upside surprise is … Continued
New construction trends were mixed in March but permits and starts improved in single-family housing. Some analysts interpreted the growth as a sign that the contraction in residential construction may be nearing an end. That conclusion may be premature based on mortgage rates increasing again and credit conditions tightening. Existing home sales declined in March … Continued
Welcome to the monthly Manheim Market Insights update. Jeremy Robb, senior director 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 tax refunds, the … Continued
The latest Cox Automotive analysis of Xtime metrics shows that service activity increased significantly month over month in March at U.S. franchised dealerships. The Repair Order Volume Index is lower than in March 2022, when service business was booming, but the Repair Order Revenue Index is higher than a year ago. The monthly Xtime volume and … Continued
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 2.7% from March in the first 15 days of April. The midmonth Manheim Used Vehicle Value Index dropped to 231.7, which was down 4.0% from the full month of April 2022. The seasonal adjustment contributed to the decline. The non-adjusted price change in … 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 11, Cox Automotive Manager of Economic and Industry Insights Mirlene Jean-Simon is joined by Michelle Krebs, executive analyst, … Continued
Year-over-year inflation in aggregate declined in March more than expected, but core inflation increased. Retail sales declined in March as more categories were falling. Adjusted for inflation, retail sales declined and were down from a year ago. Auto loan performance improved in March from the seasonal impact of households receiving tax refunds. Even so, loan … Continued
New-vehicle affordability improved again in March and contributed to improving new-vehicle sales, according to the Cox Automotive/Moody’s Analytics Vehicle Affordability Index. All factors helped as declining new-vehicle prices, increasing incentives, improving incomes, and a lower average new auto loan rate reduced the average payment to the lowest level since September 2022. The number of median … Continued
