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2 min read
New-Vehicle Affordability Declines Again in May, Typical Monthly Payment Hits New Record of $712 06/15/2022 New-vehicle affordability worsened again in May, with increases in interest rates and vehicle prices outpacing income growth. The number of median weeks of income needed to purchase the average new vehicle increased for the fourth consecutive month reaching 41.3 weeks in May from an upwardly revised 40.8 weeks in April. Cox Automotive/Moody's Analytics Vehicle Affordability IndexMay 2022 Weeks of Income Needed to Purchase a New Light… Read Article
Cox Automotive/Moody's Analytics Vehicle Affordability Index vehicle affordability Vehicle Affordability Index Market Insights Data Point
2 min read
With New-Vehicle Prices Climbing in April, Affordability Declines Further 05/16/2022 New-vehicle affordability declined slightly in April despite revised data indicating stronger income gains, according to the latest Cox Automotive/Moody's Analytics Vehicle Affordability Index. The inputs to the index again moved in differing directions in the month. The number of median weeks of income needed to purchase the average new vehicle in April increased to 40.6 weeks from a downwardly revised 40.2 weeks in March. Cox Automotive/Moody's… Read Article
Vehicle Affordability Index Cox Automotive/Moody's Analytics Vehicle Affordability Index vehicle affordability Market Insights Data Point
2 min read
New-Vehicle Affordability Remains Stable in March 04/15/2022 New-vehicle affordability remained stable in March but remains near the low in affordability set in December as rate increases in 2022 offset income gains and modest price declines, according to the Cox Automotive/Moody's Analytics Vehicle Affordability Index. The inputs to the index again moved in differing directions in the month. The number of median weeks of income needed to purchase the average new vehicle in March… Read Article
Vehicle Affordability Index Cox Automotive/Moody's Analytics Vehicle Affordability Index vehicle affordability Market Insights Data Point
2 min read
New-Vehicle Affordability Declines Slightly in February; Estimated Typical Monthly Payment Hits Record High 03/15/2022 New-vehicle affordability declined slightly in February but remains a bit better than December. The inputs to the index moved in differing directions in the month. The number of median weeks of income needed to purchase the average new vehicle in February increased to 42.9 weeks from 42.8 weeks in January but remained below the record high of 43.2 weeks in December. Cox Automotive/Moody's Analytics Vehicle Affordability… Read Article
Vehicle Affordability Index Cox Automotive/Moody's Analytics Vehicle Affordability Index vehicle affordability Market Insights Data Point
2 min read
New-Vehicle Affordability Improves Modestly in January 02/15/2022 Bucking the worsening trend throughout most of last year, new-vehicle affordability managed to improve slightly in January despite interest rates moving higher. The improvement in affordability for the month was driven by a decline in prices combined with growth in median income. The number of median weeks of income needed to purchase the average new vehicle in January declined to 42.8 weeks from an upwardly revised 43.3… Read Article
Vehicle Affordability Index Cox Automotive/Moody's Analytics Vehicle Affordability Index vehicle affordability Market Insights Data Point
2 min read
Vehicle Affordability Ends 2021 At Record Low 01/14/2022 Following similar dynamics each month this fall and winter including another new record on average price paid and another low for incentives, new-vehicle affordability declined again in December. December’s affordability decline was again caused by most vehicle market factors moving against affordability while median income was static. The number of median weeks of income needed to purchase the average new vehicle in December increased to 43.2… Read Article
Vehicle Affordability Index Cox Automotive/Moody's Analytics Vehicle Affordability Index vehicle affordability Market Insights Data Point
2 min read
New-Vehicle Affordability Worsens Again in November 12/15/2021 Following similar dynamics each month this fall including another new record on the average price paid and another low for incentives, new-vehicle affordability declined again in November. November’s affordability decline was caused by all vehicle market factors moving against affordability while median income again declined, albeit slightly. The number of median weeks of income needed to purchase the average new vehicle in November increased to 43.1… Read Article
Vehicle Affordability Index Cox Automotive/Moody's Analytics Vehicle Affordability Index vehicle affordability Market Insights Data Point
2 min read
New-Vehicle Affordability Declines to Another New Low in October 11/15/2021 With market dynamics leading to record prices and at least a two-decade-low for incentives, new-vehicle affordability declined again in October. October’s affordability decline was worsened by a decline in median income, which is a product of fading government support. The number of median weeks of income needed to purchase the average new vehicle in October increased to 42.4 weeks from an upwardly revised 40.9 weeks in… Read Article
Vehicle Affordability Index Cox Automotive/Moody's Analytics Vehicle Affordability Index vehicle affordability Market Insights Data Point
2 min read
New-Vehicle Affordability Declines to New Low in September 10/15/2021 With market dynamics leading to record prices and at least a two-decade-low for incentives, new-vehicle affordability declined again in September. With income growth stalling, the decline in affordability is accelerating. The number of median weeks of income needed to purchase the average new vehicle in September increased to 40.8 weeks from an upwardly revised 39.2 weeks in August. Cox Automotive/Moody’s Analytics Vehicle Affordability Index September 2021… Read Article
Vehicle Affordability Index Cox Automotive/Moody's Analytics Vehicle Affordability Index VAI vehicle affordability Market Insights Data Point
2 min read
New-Vehicle Affordability Declines Again in May 06/15/2021 With extremely strong vehicle demand this spring resulting in ever-tightening supply, new-vehicle affordability would have had challenges with higher prices and lower incentives. Adding in the effect of waning stimulus support, affordability declined again in May and reached challenging levels last seen in December 2013. The number of median weeks of income needed to purchase the average new vehicle increased to 35.5 weeks in May from… Read Article
Vehicle Affordability Index Cox Automotive/Moody's Analytics Vehicle Affordability Index VAI vehicle affordability Market Insights Data Point