Revised, May 12, 2023 – The supply of used vehicles is sparse as the spring selling season wraps up this year, according to the Cox Automotive analysis of vAuto Available Inventory data. 2.06M Total UnsoldUsed Vehiclesas of March 27, 2023 44 Days’ Supply $26,202 Average Listing Price 69,232 Average Mileage “The supply of used vehicles … Continued
Revised, May 11, 2023 – New-vehicle supply closed March at its highest level in two years despite surprisingly brisk sales, according to Cox Automotive’s analysis of vAuto Available Inventory data. Days of supply has remained relatively steady while the average listing price edged lower. 1.89M Total Inventoryas of March 27, 2023 57 Days’ Supply $46,949 … Continued
Certified pre-owned (CPO) sales in March rose 4.2%, over 9,000 units, from last March to finish at 229,542. This total is up nearly 23,500 units, or over 11%, from February’s number. March CPO Sales Assessing retail vehicle sales based on observed changes in advertised units tracked by vAuto, we initially estimate that used retail sales increased … Continued
For more than a year now, the Industry Insights team at Cox Automotive has been expecting monthly new-vehicle sales to improve. In most of 2022, monthly sales volume was consistently stuck at around 1.1 million units as low new-vehicle inventory levels squeezed sales. Inventory has improved notably, and new-vehicle sales are increasing. Inventory volume in … 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
ATLANTA, April 11, 2023 – A nearly two-year trend was broken in March 2023 when the average price Americans paid for a new vehicle fell below the manufacturer’s suggested retail price (MSRP) for the first time in 20 months, according to data released today by Kelley Blue Book, a Cox Automotive company. The average transaction … Continued
In March, which featured the failure of several banks, access to auto credit loosened slightly, according to the Dealertrack Credit Availability Index for all types of auto loans. However, the aggregate measure masked varied moves happening in vehicle channels and by lender. The All-Loans Index increased 0.2% to 98.2 in March, reflecting that auto credit … Continued
The latest employment report presented another mixed view of the labor market. Job growth in March decelerated again, but the unemployment rate increased, and wage growth decelerated. Goods-related industries are shedding jobs while services add jobs. The labor market is cooling down, but likely not enough for the Fed. Jobless claims are higher than previously … Continued
The Manheim Used Vehicle Value Index (MUVVI) increased 8.6% in the first quarter, ending March at 238.1. The MUVVI has risen for four consecutive months after experiencing the largest decline within one year in the series’ history in 2022. Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) increased 1.5% in March from … Continued
ATLANTA (April 7, 2023) – According to data assembled by Cox Automotive, the world’s largest automotive services and technology provider, the market for used electric vehicles (EVs) in the U.S. is beginning to accelerate rapidly as more used EVs become available and buyers snap them up. The rapid growth of new EV sales in the … Continued
