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
Job growth in February decelerated but was still stronger than expected. The unemployment rate increased, and wage growth decelerated. Jobless claims are rising again. Continuing claims are fast approaching the highest level in over a year. However, claims remain at historically low levels relative to the job base. Tax refund season is well ahead of … Continued
Access to auto credit loosened modestly in February, according to the Dealertrack Credit Availability Index for all types of auto loans. The All-Loans Index increased 0.9% to 98.1 in February, reflecting that auto credit was easier to get in the month compared to January. Even with the increase in February, access was tighter by 4.4% … Continued
ATLANTA, March 9, 2023 – U.S. automobile dealer sentiment in the first quarter of 2023 was little changed from the level recorded in Q4 2022 and remains at the lowest level since the height of the global COVID-19 pandemic, according to the Cox Automotive Dealer Sentiment Index (CADSI). At 43, the current market index is below … Continued
ATLANTA, March 8, 2023 – The average transaction price (ATP) of a new vehicle in the United States declined in February 2023 to $48,763, a decrease of 1.4% ($705) from an upwardly-revised January reading of $49,468. Transaction prices last month were up 5.3% ($2,466) from year-ago levels, according to data released today by Kelley Blue … Continued
Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) increased 4.3% in February from January. This was the largest increase for the full month of February since 2009’s 4.4% rise. The Manheim Used Vehicle Value Index (MUVVI) rose to 234.5, down 7.0% from a year ago. February’s increase was driven partially by the … Continued
SAN FRANCISCO – March 7, 2023 – In the machine learning world, making models run across a variety of mobile phones is notoriously challenging. This is why Fyusion, a visual intelligence company owned by Cox Automotive, has delivered a powerful new open-source library that makes it easy and efficient to run machine learning models on … Continued
Pending home sales were a surprise to the upside in January. The strength in new and pending home sales may be short-lived, with mortgage rates moving substantially higher in February and the weather being less cooperative. The light new-vehicle sales pace, or seasonally adjusted annual rate (SAAR), declined in February to 14.9 million. Still, the … Continued
Sales into large fleets, not including sales into dealer and manufacturer fleets, increased 48% year over year in February to 183,954 units, according to an early estimate from Cox Automotive. New-vehicle inventory is vastly better than year-ago levels, enabling automakers to be more aggressive with fleet sales. Combined sales into large rental, commercial, and government … Continued
