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2 min read
Rising Prices and Rates Make New Vehicles Increasingly Unaffordable 09/15/2022 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 weeks in July. Cox Automotive/Moody's Analytics Vehicle Affordability IndexAugust 2022 Weeks… 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 in July as Typical Monthly Payment Hits Record $733 08/15/2022 New-vehicle affordability declined slightly again in July with increases in interest rates and new-vehicle prices reaching a record high, 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 July increased to 42.2 weeks from a downwardly revised 42.0 weeks in June. Supporting affordability, median income grew 0.4% and incentives increased for… 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 Again in June, Typical Monthly Payment Hits Record $730 07/15/2022 New-vehicle affordability declined again in June with increases in rates and prices reaching a new record, 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 June increased to 42.2 weeks from an upwardly revised 41.5 weeks in May. Supporting affordability, median income grew 0.3%, but all other factors moved against 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 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
Vehicle Affordability Index Cox Automotive/Moody's Analytics Vehicle Affordability Index vehicle affordability 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