The Cox Automotive Monthly Industry Update is produced by the Cox Automotive Economic and Industry Insights team with the goal of providing a holistic look at the auto industry’s performance each month in video format. In Episode 6, Cox Automotive Executive Analyst Michelle Krebs is joined by Research Manager Rebecca Rydzewski, Research Manager Quentin Wallace … Continued
New-vehicle sales in the U.S. were remarkably stable through the third quarter of 2022. Sales volumes in July came in at 1.14 million units and followed in August at 1.14 million. September sales dropped a bit, to 1.12 million. In fact, the Q3 average of 1.13 million sales a month was aligned with the market … Continued
Revised, Nov. 17, 2022 – Used-vehicle inventory and asking prices are stabilizing, according to the Cox Automotive analysis of vAuto Available Inventory data. Used supply held steady in September from August and is higher than a year ago. Growth in listing prices is slowing. 2.46M Total UnsoldUsed Vehiclesas of Sept. 26, 2022 53 Days’ Supply … Continued
Revised, Nov. 17, 2022 – New-vehicle inventory closed September at its highest level since early June 2021, and the average listing price for new vehicles fell to the lowest point in two months, according to Cox Automotive’s analysis of vAuto Available Inventory data. Still, supply remains well below historical norms, and prices are still far … Continued
The average price paid for a new vehicle in the United States in September 2022 was down from August’s record but remains solidly above the $48,000 mark, according to new data released today by Kelley Blue Book, a Cox Automotive company. The Kelley Blue Book new-vehicle average transaction price (ATP) decreased to $48,094 in September, … Continued
We have received many inquiries about what we believe the damage due to Hurricane Ian might have been in Florida and the subsequent impact on replacement demand and wholesale prices. Here’s our thinking at this point: We believe the likely range of severely damaged vehicles that could need replacement is between 30,000 and 70,000 vehicles. … 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.
Certified pre-owned (CPO) sales in September fell nearly 5%, just under 10,000 units, from August to finish at 201,707. This total is down over 26,000 units from last year and is the lowest monthly total since February of this year. 2022 CPO sales are down 15% year to date. September CPO Sales Leveraging a same-store … Continued
Access to auto credit expanded for the first time in five months in September, according to the Dealertrack Credit Availability Index for all types of auto loans. The All-Loans Index increased 1.1% to 103.7 in September, reflecting that auto credit was easier to get in the month compared to August. The improved access meant conditions … Continued
The September employment report revealed a too-strong job market and raised the likelihood of the Fed doing another jumbo rate increase in early November. September saw slowing but strong job growth and a decline in the unemployment rate back to the pre-pandemic low of 3.5%. Wage growth was steady. Jobless claims have moved higher in … Continued