Cox Automotive’s Auto Market Report video delivers a comprehensive analysis of the current automotive market. Chief Economist Jonathan Smoke leads our effort to translate data and trends into actionable insights. This video covers a wide range of topics, including consumer spending patterns, consumer sentiment, retail vehicle sales, financing rates, supply dynamics, pricing trends and leading … Continued
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) declined 0.2% from August in the first 15 days of September. The mid-month Manheim Used Vehicle Value Index decreased to 203.6, down 5.0% from the full month of September 2023. The seasonal adjustment softened the results. The non-adjusted price change in the first half … Continued
According to an analysis of Cox Automotive’s vAuto Live Market View data estimates, retail used-vehicle sales in August increased from July. The 8% month-over-month gain pushed retail sales estimates to the highest level since October 2021. A total of 1.7 million used vehicles were sold at retail – from both franchised and independent dealers – during August, … Continued
Key Highlights Inflation and Auto Pricing Headline inflation, according to the consumer price index (CPI), increased by 0.2% in August, as expected, with the core CPI, excluding food and energy, seeing a more-than-expected growth of 0.3%. Interestingly, new-vehicle prices remained stagnant while used-vehicle prices slid by 1%. On a year-over-year basis, core CPI remained at … Continued
New-vehicle affordability improved in August to the best level since May 2021 as every factor moved in the consumer’s favor, according to the Cox Automotive/Moody’s Analytics Vehicle Affordability Index. Factors leading to improved new-vehicle affordability include lower prices and interest rates and higher incomes and incentives. “The affordability story is complex,” said Cox Automotive Economist Jonathan … Continued
The Q3 Cox Automotive Industry Insights and Sales Forecast call will be hosted on Wednesday, Sept. 25, at 11 a.m. EDT, shortly before the auto industry closes the book on the third quarter. In the upcoming webinar, Chief Economist Jonathan Smoke and the Economic and Industry Insights team will share valuable data and insights regarding the performance of the consumer, industry and economy in … Continued
ATLANTA, Sept. 10, 2024 – For the 11th straight month, the average transaction price (ATP) for a new vehicle in the U.S. was lower year over year, according to data released today by Kelley Blue Book, as higher inventories continue to add price pressure to the market. At $47,870, the new-vehicle ATP in August was also … Continued
Access to auto credit declined again in August as credit tightened across all channels and most lender types, according to the Dealertrack Credit Availability Index. The All-Loans Index was 92.5 in August, down 0.5% from the July reading and down 1.7% year over year. Dealertrack Credit Availability Index1 Auto loan access worsened slightly in August … Continued
Key Highlights August Job Growth In August, job growth reaccelerated modestly but fell short of expectations, reflecting a mixed performance across various sectors. Revisions and Trends Recent revisions to job numbers and broader trends highlight a more nuanced picture of the labor market’s recovery. Unemployment and Participation Rates The unemployment and labor force participation rates … Continued
Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) were higher in August compared to July. The Manheim Used Vehicle Value Index (MUVVI) rose to 203.9, a decline of 3.9% from a year ago. The seasonal adjustment to the index mitigated the impact on the month, resulting in values that rose 1.2% month … Continued