Revised, Oct. 14, 2022 – New-vehicle inventory closed August higher than it did a year ago, when the global computer chip shortage began hurting production, but supply remains low compared with pre-pandemic times, according to Cox Automotive’s analysis of vAuto Available Inventory data. After bumping around through the month, the average listing price closed August … Continued
With new-vehicle prices setting a new record and auto loan rates reaching a more-than-10-year high, new-vehicle affordability declined again in August, according to the Cox Automotive/Moody’s Analytics Vehicle Affordability Index. The number of median weeks of income needed to purchase the average new vehicle in August increased to 42.6 weeks from an upwardly revised 42.2 … 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 5, Cox Automotive Executive Analyst Michelle Krebs is joined by Senior Manager of Economic and Industry Insights Chris … 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.
Average new-vehicle prices hit a new record in August. Pricing power remains strong for manufacturers and dealers. Used-vehicle sales increased in August from July. Used supply is a bit higher than normal in retail and in wholesale, and as a result, wholesale prices in August declined more than normal for the time of year. Supply came … Continued
The average price paid for a new vehicle in the U.S. in August topped July’s record and kept the average transaction price (ATP) solidly above the $48,000 mark, according to new data released today by Kelley Blue Book, a Cox Automotive company. The Kelley Blue Book new-vehicle ATP increased to $48,301 in August 2022, beating … Continued
Auto Marketing, Sept. 9, 2022 – During the NAAA annual convention, Cherokee Media Group senior editor Joe Overby shared a conversation with two executives from Cox Automotive Inventory Solutions — Dana Lowenthal and Patrick Brennan. Among other topics, they discussed how dealers are leveraging auctions today, whether they’re still walking the lanes or going online … Continued
Access to auto credit declined for the fourth straight month in August, according to the Dealertrack Credit Availability Index for all types of auto loans. The All-Loans Index declined 0.8% to 102.5 in August, reflecting that auto credit was harder to get in the month compared to July. The decline in access in recent months … Continued
Certified pre-owned (CPO) sales increased month over month but underperformed the overall used-vehicle retail market in August. August CPO sales rose to 211,609 units, up more than 5,000 units or a 2.6% increase over July. Year-over-year CPO sales decreased by nearly 11,000 units, or 5.1% lower than in August 2021. August 2022 CPO Sales Leveraging … Continued
ATLANTA, Sept. 8, 2022 – U.S. automobile dealer sentiment in Q3 2022 reflects that more dealers view the current market as weak than strong. Now, at 49, the current market index is below the threshold of 50 in the Cox Automotive Dealer Sentiment Index (CADSI), marking the fifth quarter-over-quarter decline in overall market sentiment. The index is … Continued