Welcome to the monthly Manheim Market Insights update. This monthly video is content offered by Kevin Chartier, vice president of Manheim Market Insights. In this video, Chartier shares a few of his thoughts on what we are seeing in the used wholesale and retail markets; all through the wide lens of data available from Cox … Continued
South Korean automaker Hyundai Motor Company, which includes the Hyundai, Kia and Genesis brands, signaled that when its third-quarter financial results are announced on Monday, October 24, they will reflect provisions equivalent to $2 billion for a major recall. The company said the provisions relate to the recalls of Hyundai and Kia vehicles equipped with … Continued
Service activity and revenue at U.S. franchised dealerships moved in opposite directions in September, according to the latest Cox Automotive analysis of Xtime metrics. The Repair Order Volume Index declined modestly, while the Repair Order Revenue Index increased to a record high. The monthly Xtime volume and revenue metrics are designed to showcase average service … Continued
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) declined 2.0% from September in the first 15 days of October. The Manheim Used Vehicle Value Index fell to 200.5, which was down 10.3% from October 2021. The non-adjusted price change in the first half of October was a decline of 1.8% compared to … Continued
New-vehicle affordability declined again in September, with auto loan rates reaching a 15-year high even though prices declined slightly. The number of median weeks of income needed to purchase the average new vehicle in September increased to 42.2 weeks from a downwardly revised 42.1 weeks in August. Cox Automotive/Moody’s Analytics Vehicle Affordability Index September 2022 … Continued
Financial markets had a roller coaster ride last week, ending the week lower due to stronger-than-expected inflation data and consumer sentiment data indicating rising inflation expectations. Both suggest the Fed will raise rates as much as planned in November and December and possibly more. The September Consumer Price Index (CPI) inflation report indicated headline inflation … 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 6, Cox Automotive Executive Analyst Michelle Krebs is joined by Research Manager Rebecca Rydzewski, Research Manager Quentin Wallace … Continued
New-vehicle sales in the U.S. were remarkably stable through the third quarter of 2022. Sales volumes in July came in at 1.14 million units and followed in August at 1.14 million. September sales dropped a bit, to 1.12 million. In fact, the Q3 average of 1.13 million sales a month was aligned with the market … Continued
Revised, Nov. 17, 2022 – Used-vehicle inventory and asking prices are stabilizing, according to the Cox Automotive analysis of vAuto Available Inventory data. Used supply held steady in September from August and is higher than a year ago. Growth in listing prices is slowing. 2.46M Total UnsoldUsed Vehiclesas of Sept. 26, 2022 53 Days’ Supply … Continued
Revised, Nov. 17, 2022 – New-vehicle inventory closed September at its highest level since early June 2021, and the average listing price for new vehicles fell to the lowest point in two months, according to Cox Automotive’s analysis of vAuto Available Inventory data. Still, supply remains well below historical norms, and prices are still far … Continued