The 2023 Cox Automotive Industry Insights and Sales Forecast Call was held today, January 12. The presentation is available for download. Chief Economist Jonathan Smoke, Senior Economist Charlie Chesbrough and Chris Frey, senior manager of economic and industry insights, presented how the auto industry performed in 2022 and how the team sees the industry progressing in … Continued
Revised, Feb. 16, 2023 – New-vehicle inventory stacked up in December, suggesting some automakers may be forced to bring back incentives to spur sluggish sales and draw down supply, according to Cox Automotive’s analysis of vAuto Available Inventory data. Despite stagnated sales and rising supply, prices still increased. “New-vehicle inventory climbed through December, nearing what … Continued
ATLANTA, Jan. 11, 2023 – The average transaction price (ATP) of a new vehicle in the U.S. hit a record high in December at $49,507, an increase of 1.9% ($927) from November and up 4.9% ($2,297) from year-earlier levels. New-vehicle inventory levels are increasing from historic lows earlier in 2022, but prices remain elevated, according … Continued
Artificial intelligence (AI) has been called the most transformative technology in the history of mankind. And yet some believe it’s still the stuff of science fiction, conjuring up images of human cyborgs and scenes from The Matrix. Even still, 94% of surveyed business leaders view AI as critical to their success over the next five … Continued
A replay of the Q4 2022 Manheim Used Vehicle Value Index Call held on Monday, January 9, is available below. Cox Automotive Chief Economist Jonathan Smoke and Chris Frey, senior manager of economic and industry insights for Cox Automotive, discussed the latest Manheim Used Vehicle Value Index and the major economic and industry trends that shaped the quarter … Continued
Access to auto credit tightened again in December, according to the Dealertrack Credit Availability Index for all types of auto loans. The All-Loans Index declined 2.1% to 99.1 in December, reflecting that auto credit was harder to get in the month compared to November. The decline in access reflected conditions that were tightest since September … Continued
Auto Remarketing, Jan. 9. 2023 – Dale Pollak, founder of vAuto and executive vice president of Cox Automotive, writes in an opinion piece about how dealers have a “hangover problem” where they have overindulged while times were great. In this article, Pollak offers a hangover cure in the form of a new method to manage … Continued
Register now to join Cox Automotive Chief Economist Jonathan Smoke, Senior Economist Charlie Chesbrough, and the Industry Insights team for the 2023 Industry Insights and Sales Forecast Call. Thursday, January 12 11 a.m. EST. As a new year dawns for the automotive industry, the team will give a deep dive into the economy and auto … Continued
ATLANTA (Jan. 9, 2023) – Following record increases in 2021, the Manheim Used Vehicle Value Index (MUVVI) ended 2022 at 219.3, a slight increase from November due to the seasonal adjustment, but down 14.9% year over year. This was the largest decline within one year in the series’ history. On the non-adjusted side, the price … Continued
Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) increased 0.8% in December from November. The Manheim Used Vehicle Value Index (MUVVI) rose to 219.3, down 14.9% from a year ago. This was the largest annualized decline in the series’ history. December’s increase was driven by the seasonal adjustment. The non-adjusted price change … Continued
