Revised, Dec. 14, 2022 – New-vehicle inventory closed October at its highest level since May 2021, and prices stayed high, according to Cox Automotive’s analysis of vAuto Available Inventory data. Over the past three months, all but four major brands have seen an increase in inventory. The question is: Will demand keep up with supply? … Continued
New-vehicle affordability declined again in October with auto loan rates reaching a 20-year high as prices increased slightly, 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 October increased to 42.8 weeks from an upwardly revised 42.6 weeks in September. … Continued
Financial markets shifted to the positive last week, with weaker-than-expected inflation data pointing to an eventual end to rate increases. However, the Fed will likely raise rates by 50 basis points (BPs) in December as planned unless something more dramatic changes between now and December 14. We get November employment and Consumer Price Index (CPI) … Continued
The Inflation Reduction Act (IRA) of 2022 is a far-reaching collection of legislation that was signed into law by President Biden on August 16, 2022. The IRA will impact everything from health care to drug prices, from manufacturing to corporate taxes, and IRS enforcement to climate change. For the auto industry, a key element of … Continued
Certified pre-owned (CPO) sales in October rose 2.5%, just over 5,000 units, from September to finish at 207,547. This total is down over 9,000 units from last October. Year to date, CPO sales are down over 335,000 units, or 14.1%, and Cox Automotive expects them to finish near 2.4 million for the full-year 2022. October CPO … Continued
Of all new-vehicle shoppers in the third quarter, 27% considered an electrified vehicle, which includes full electric vehicles (EVs), hybrids and fuel-cell vehicles, according to research from Kelley Blue Book. That is the same percentage as in the second quarter and just shy of the peak of 28% in the fourth quarter of 2021. Hybrids … Continued
Access to auto credit expanded slightly for the second consecutive month in October, according to the Dealertrack Credit Availability Index for all types of auto loans. The All-Loans Index increased 0.2% to 103.9 in October, reflecting that auto credit was easier to get in the month compared to September. The improvement in access reflected conditions … Continued
ATLANTA, Nov. 9, 2022 – The average price paid for a new vehicle in the United States in October 2022 was up from September and remains above the $48,000 mark, according to data released today by Kelley Blue Book, a Cox Automotive company. The Kelley Blue Book new-vehicle average transaction price (ATP) increased to $48,281 … 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.
Shopping for Tesla plummeted in the third quarter, losing more consideration than any other luxury brand, according to the Kelley Blue Book Brand Watch™ report for luxury vehicles. BMW widened its lead as the most-shopped luxury brand. The Kelley Blue Book Brand Watch report is a consumer perception survey that also weaves in consumer shopping … Continued
