The used-vehicle market reaches 40 million units sold in a good year, dwarfing the new-vehicle business. While roughly 45% of used vehicle sales are private party—neighbor to neighbor deals—the growing majority are retail sales closed at dealerships. Independent dealers, often overlooked by industry observers and media alike, are a driving force in this corner of … Continued
Used-vehicle prices hit an all-time high at the opening of May, and supply stabilized though remained well below 2020 and 2019 levels, according to a Cox Automotive analysis of vAuto Available Inventory data. 2.23M Total Unsold Used Vehiclesend of April 35 Days’ Supply $22,568 Average Listing Price 68,063 Average Mileage The average listing price surpassed … Continued
In the past decade, Ford Motor Company has sold more than 7.38 million full-size F-Series pickup trucks, making it far and away the most dominant vehicle in America, as far as sales tallies go. The No. 2 vehicle in the same timeframe was the Chevy Silverado. Total sales: 5.34 million. It might be fair to … Continued
After a year’s worth of videos tracking the COVID-19 pandemic’s impact on the auto market, we are launching a biweekly Auto Market Report video series focusing on data and insights that provide a holistic view of the auto industry. Chief Economist Jonathan Smoke will continue to lead our effort to translate data and trends into … Continued
The estimated average transaction price for a light vehicle in the United States was $40,768 in April 2021, according to the analysts at Kelley Blue Book. New-vehicle prices increased $864 (up 2.2%) from April 2020, while increasing $92 (up 0.23%) from March 2021. “Comparing the current market to this time last year, when COVID-19 brought … Continued
In order to provide actionable, timely insights, the Cox Automotive Economic & Industry Insights team is publishing its mid-month view of the wholesale market, including wholesale prices. The posted material provides commentary and an updated look at the Manheim Used Vehicle Value Index and general information on segment performance for the first 15 days of … Continued
Breaking a streak of five straight months of improvement, new-vehicle affordability declined in April. The number of median weeks of income needed to purchase a new vehicle increased to 33.8 weeks from an upwardly revised 32.4 weeks in March. In April, the price paid was modestly higher and the average financing rate also slightly increased, … Continued
New daily COVID-19 cases continued to decline as more people were vaccinated. Economic activity continued to recover as more states ease restrictions. New jobless claims declined to their lowest level for the pandemic. Inflation jumped, likely prompting a decline in consumer sentiment. Retail sales were unchanged, and consumer credit is growing. Inflation rises: Both headline and core … Continued
Record April sales significantly depleted the inventory of new vehicles for the usually booming month of May, a situation exacerbated by production disruptions caused by the global computer chip shortage, according to a Cox Automotive analysis of the vAuto Available Inventory data. 2.24M Total Inventory 44 Days’ Supply $39,633 Average Listing Price The total U.S. … Continued
Honda Motor in Japan reported earnings for its full fiscal year and the quarter that ended March 31, 2021. In the U.S., one of its most important markets, American Honda, which includes the Honda and Acura brands, significantly improved sales in the quarter, reduced incentives and gained in pricing. Here are data for the quarter … Continued