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 9, Cox Automotive Manager of Economic and Industry Insights Mirlene Jean-Simon is joined by Rebecca Rydzewski, research manager, … Continued
ATLANTA, Feb. 13, 2023 – The average transaction price (ATP) of a new vehicle in the U.S. declined slightly in January 2023 to $49,388, a decrease of 0.6% ($310) from December’s record high and up 5.9% ($2,768) from levels one year earlier. New-vehicle inventory levels are increasing from historic lows in early 2022, but prices remain elevated, according to data released today … Continued
The Business News, Feb. 13, 2023 – In this article, Chief Operating Officer Adam Gaedke at Van Horn Automotive Group explains how the dealership has gone above and beyond to embrace e-commerce. He highlights how the 57-year-old automotive group has been “ahead of the curve“ by being one of the first to put vehicles on … Continued
Used retail-vehicle sales increased in January and were up from a year ago. Wholesale vehicle values also increased in January. Auto loan performance deteriorated further in January as both severe delinquencies and defaults grew. The severe delinquency rate is the highest we have seen, but the default rate is still below levels seen in 2019. … Continued
Auto Remarketing, Feb. 10, 2023 – Grace Huang, president of Cox Automotive Inventory Solutions, writes in an opinion piece about three key areas that she believes offer the greatest opportunity for the wholesale industry to prepare for what lies ahead. These three areas include:
Access to auto credit tightened again in January, according to the Dealertrack Credit Availability Index for all types of auto loans. The All-Loans Index declined 1% to 98.0 in January, reflecting that auto credit was harder to get in the month compared to December. The decline in access reflected conditions that were tightest since June … Continued
Shopping for Tesla models fell again during the fourth quarter of 2022, according to the most recent Kelley Blue Book Brand Watch report on luxury vehicle shopping. The softening of demand was likely one of the reasons Tesla began to offer hefty discounts on some models in the final two weeks of the year and … Continued
As the old saying goes, “Everything is bigger in Texas.” And that was certainly the case last month at the annual NADA convention: The attendance, energy, and even the Cox Automotive booth were bigger than I’ve seen in recent years. NADA returned to Texas for the first time since 1992, and Dallas certainly delivered in … Continued
While the global chip situation is improving, it has not been quick enough for Nissan’s small, high-volume Sentra and Versa models, which has hampered U.S. sales. Nissan Motor Corporation reports financial results on Thursday, Feb. 9, for the October-December period, Nissan’s third quarter of its fiscal year 2022, which ends March 31, 2023. Despite inventory … Continued
Toyota Motor Corporation posts financial results for the October-to-December quarter on Wednesday, Feb. 8, the automaker’s third quarter of its fiscal year. Like its Japanese competitors, Toyota Motor North America has had one of the lowest inventory levels in the U.S. for the past year, including the most recent quarter. Throughout the past calendar year, … Continued
