In this summer of low incentives, consumers are facing record-high vehicle prices. Inventories are low and many vehicles are being sold at or above the manufacturer’s suggested retail price (MSRP). While interest rates remain favorable and help the bottom line of most deals, incentive spending has dropped off notably in 2021, putting pressure on vehicle … Continued
U.S. monetary policy was unchanged today as the Fed issued their official statement following their fifth meeting of 2021. Minimal changes were made in the official statement compared to the prior statement. They acknowledged progress towards the conditions necessary to eventually move away from easy monetary conditions but said they will continue to assess progress … Continued
Nissan Motor Co. in Japan reports its financial results for the April-to-June quarter Wednesday, July 28. The quarter is Nissan’s first in its fiscal year that ends March 31, 2022. Nissan has been forced to cut production in Japan and the U.S. due to the global computer chip shortage, but, in the U.S., it has … Continued
Ford Motor Co. reports second-quarter 2021 earnings Wednesday, July 28, after the stock market closes. The global computer chip shortage has severely hampered Ford’s vehicle supply. Ford has cut production and built vehicles and parked them until chips are available. On the plus side, high consumer demand and low inventories have allowed Ford to drastically … Continued
The trend in new daily COVID-19 cases continued increasing last week. Consumer sentiment declined again and is having its worst month since November. Wholesale used vehicle values continue to decline from their peak in early June. Retail prices are likely to reach their peak this month. New construction trends in June were mixed, but declining … Continued
Used-vehicle prices set another record at the end of June, according to a Cox Automotive analysis of vAuto Available Inventory data. 2.45M Total UnsoldUsed Vehiclesend of May 41 Days’ Supply $25,101 Average Listing Price 68,613 Average Mileage The average listing price for used vehicles surpassed the $25,000 mark for the first time – $25,101 to … 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.
The estimated average transaction price (ATP) for a light vehicle in the United States was $42,258 in June 2021, according to the analysts at Kelley Blue Book. New-vehicle prices increased $2,527 (up 6.4%) from June 2020, while increasing $928 (up 2.2%) from May 2021. “Despite record low incentives and inventory in June, last month … Continued
As another data point to monitor the health of the automotive market, according to Cox Automotive estimates, total used-vehicle sales were down 12% year over year in June. We estimate the June used SAAR to be 39.0 million, down from 43.6 million last June and down compared to 40.0 in May. We estimate the monthly … Continued
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 1.7% in the first 15 days of July compared to the month of June. This brought the Manheim Used Vehicle Value Index to 196.9, a 24.7% increase from July 2020. Manheim Market Report (MMR) prices declined in each of the last two … Continued