Kevin Chartier, vice president of Manheim Consulting, sat down with Timothy Walker, director of fleet and remarketing at Kia, during the Kia Fleet and Dealer show to address a potential price correction in 2022 and share his thoughts on remarketing in 2022 and beyond. Watch the video below to learn more. If you have questions … Continued
Service centers at U.S. franchised dealerships were less busy in January than in December, according to the latest analysis of Xtime metrics. The Repair Order Volume Index decreased month over month while the Repair Order Revenue Index increased. Repair order volume remains well below pre-pandemic levels, but revenue per repair set another record high. The … Continued
COVID-19 cases driven by the omicron variant surged to record levels in January but have been declining rapidly for more than four weeks. They are now down 85% from the peak. COVID, inflation, the weather and stock market volatility have weighed on consumer sentiment so far in 2022, but none of that kept consumers from … Continued
Revised March 17, 2022 – Used-vehicle inventory climbed during January to more normal levels on weaker sales, according to the Cox Automotive analysis of vAuto Available Inventory data. The average list price dipped from record levels in December. 2.55M Total UnsoldUsed Vehiclesas of January 31 55 Days’ Supply $27,606 Average Listing Price 71,117 Average Mileage … Continued
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) declined 1.5% in the first 15 days of February compared to the full month of January. This brought the Manheim Used Vehicle Value Index to 232.8, which was up 37.6% from February 2021. The non-adjusted price change in the first half of February was … Continued
Revised March 16, 2022 – New-vehicle inventory, boosted by growing supply from domestic automakers, edged higher in the last weeks of January, according to a Cox Automotive analysis of vAuto Available Inventory data. Prices retreated from their December peak, dipping below $45,000. 1.06M Total Inventoryas of Jan. 31, 2022 37 Days’ Supply $44,814 Average Listing … Continued
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 … 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.
Shopping for electrified vehicles set another record, and some models were among the most shopped of all luxury and non-luxury vehicles, electrified or not, illustrating electrified vehicles are going mainstream, according to the Q4 2021 Kelley Blue Book Brand Watch™ report. The report is a consumer perception survey that also weaves in consumer shopping behavior … Continued
The Chicago Auto Show opened to the public this past weekend. This is the first time in two years that the largest consumer-focused auto show is open for business. There was a “Summer Show” this past July in Chicago, but that event was smaller and largely outdoors. The show opening now is more familiar, more … Continued