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Cox Automotive’s Upside Delivers a Vibrant Wholesale Marketplace with Advantages for Buyers and Sellers 05/23/2022 ATLANTA, May 23, 2022 – To some dealers, it sounded too good to be true: a vibrant wholesale marketplace that could deliver value on both sides of the transaction. But that’s exactly what Cox Automotive set out to deliver with Upside™. With the first Upside Direct sales attracting strong participation, Cox Automotive is confident in saying that the promise of Upside has become a reality. Upside… Read Article

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Auto Market Weekly Summary 05/23/2022 COVID cases increased again last week and exceeded levels seen at the same time last year. However, severity indicators, like fatalities and ICU admissions, remain at or near pandemic lows. COVID cases combined with the war in Ukraine, rising inflation and a volatile stock market are negatively impacting consumer sentiment. Retail sales increased solidly, indicating consumer demand endures despite high inflation. However, both Walmart and Target… Read Article

Market Insights Smoke on Cars Economy & Trends

Dealership Service Revenue Hits Record in April with Less Activity, according to Xtime Metrics 05/20/2022 Service revenue increased at U.S. franchised dealerships in April on fewer repair order tickets, according to the latest Cox Automotive analysis of Xtime metrics. The Repair Order Volume Index decreased month over month in April. Meanwhile, the Repair Order Revenue Index increased month over month to the highest level for the index, dating back to January 2018. The monthly Xtime volume and revenue metrics are designed… Read Article

Operations Service Fixed Ops Xtime Market Insights Data Point

Used-Vehicle Supply Holds Steady as Asking Prices Rise 05/19/2022 A spring sales bounce that has been late coming and more spread out than expected has now led to used-vehicle supply holding largely steady in April, according to the Cox Automotive analysis of vAuto Available Inventory data. The average retail list price, however, resumed its upward trajectory, surpassing the $28,000 mark again. 2.52M Total UnsoldUsed Vehiclesas of May 2 48 Days' Supply $28,365 Average Listing Price… Read Article

Inventory used-vehicle prices used-vehicle inventory Market Insights Data Point

New-Vehicle Inventory Remains Stuck in Neutral in April 05/18/2022 New-vehicle inventory barely budged in April due to continued supply chain disruptions, according to a Cox Automotive analysis of vAuto Available Inventory data. Inventory of imports and small, fuel-efficient models were among the lowest due to strong demand driven in part by rising gas prices. Prices in April rose as well, with the average new vehicle listing price climbing again above $45,000. 1.13M Total Inventoryas of… Read Article

Inventory new-vehicle inventory Market Insights Data Point

Wholesale Used-Vehicle Prices Increase in First Half of May From Seasonal Adjustment 05/17/2022 Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 0.7% in the first 15 days of May compared to the full month of April. This brought the Manheim Used Vehicle Value Index to 222.7, which was up 9.7% from May 2021. The non-adjusted price change in the first half of May was an increase of 1.0% compared to April, leaving the unadjusted average… Read Article

Manheim Used Vehicle Value Index MUVVI Market Insights Data Point

With New-Vehicle Prices Climbing in April, Affordability Declines Further 05/16/2022 New-vehicle affordability declined slightly in April despite revised data indicating stronger income gains, according to the latest Cox Automotive/Moody's Analytics Vehicle Affordability Index. The inputs to the index again moved in differing directions in the month. The number of median weeks of income needed to purchase the average new vehicle in April increased to 40.6 weeks from a downwardly revised 40.2 weeks in March. Cox Automotive/Moody's… Read Article

Vehicle Affordability Index Cox Automotive/Moody's Analytics Vehicle Affordability Index vehicle affordability Market Insights Data Point

Auto Market Weekly Summary 05/16/2022 COVID cases increased again as Omicron subvariants push case numbers up to levels last seen in mid-February. Measures of consumer sentiment have shown declines so far in May, as inflation and stock market declines weigh on consumer attitudes. Inflation decelerated slightly in April, but rent and services saw gains. Consumer credit grew at an accelerated pace in March as credit card spending growth set a record… Read Article

Market Insights Smoke on Cars Economy & Trends

Cox Automotive Analysis: Hyundai’s Quarterly U.S. Market Performance 05/13/2022 South Korean automaker Hyundai Motor, which includes the Hyundai, Kia and Genesis brands, posted a better-than-expected rise in its first-quarter profit as favorable exchange rates more than made up for higher raw material costs and a drop in vehicles sales caused by the global computer chip shortage. The U.S. is one of the most important markets for the automaker. Here are some data points from Cox… Read Article

Hyundai market performance Kia Genesis Market Insights Data Point

Q1 2022 Kelley Blue Book Brand Watch: Toyota, Tesla and Ford Dominate the Most-Shopped List of Electrified Vehicles 05/13/2022 Surging gas prices in March led one-in-four shoppers to consider electrified vehicles, particularly EVs and hybrids, a trend likely to accelerate as new models hit showrooms soon, according to the Q1 2022 Kelley Blue Book Brand Watch™ report. The Kelley Blue Book Brand Watch report is a consumer perception survey that also weaves in consumer shopping behavior to determine how a brand or model stacks up… Read Article

Kelley Blue Book Brand Watch EVs Electrified Vehicles Market Insights Commentary & Voices

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