Market Insights and Outlook - Cox Automotive Inc.

Data Point The automotive industry is a data-driven business. These are the data points that our team of experts and analysts find most interesting, offered with insights to explain why it matters and why you should know.

All Smoke on Cars Commentary & Voices Data Point Economy & Trends CAMIO

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Dealership Service Ticket Volume and Revenue Increase in October, According to Xtime Metrics 11/20/2023 According to a recent analysis by Cox Automotive of Xtime metrics, service activity at franchised dealerships in the U.S. increased in October, following a dip in September. The Repair Order Volume Index decreased compared to the previous year, the Repair Order Revenue Index remained higher than in October 2022. “The October service metrics from Xtime show no effects of the UAW strike,” said Skyler Chadwick, director… Read Article

Operations Service Fixed Ops Xtime Market Insights Data Point

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CPO Sales Come in Surprisingly Weak in October 11/17/2023 In October, certified pre-owned (CPO) sales experienced a slight decline, falling by less than 400 units from October 2022 to reach 207,189, a year-over-year decrease of 0.2%. However, this decrease is more pronounced compared to September, as month-over-month CPO sales were down by over 23,000 units, or 10.1%. One less selling day contributed to both year-over-year and month-over-month declines. “CPO sales came in surprisingly weak in… Read Article

CPO certified pre-owned CPO sales Market Insights Data Point

4 min read

Wholesale Used-Vehicle Prices Decline in First Half of November 11/17/2023 Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 1.6% from October in the first 15 days of November. The midmonth Manheim Used Vehicle Value Index declined to 206.1, which was down 5.3% from the full month of November 2022. The seasonal adjustment reduced the decrease. The non-adjusted price change in the first half of November dropped 2.3% compared to October, while the… Read Article

Manheim Used Vehicle Value Index MUVVI Market Insights Data Point

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Estimated Monthly Used-Vehicle SAAR and Volume 11/15/2023 According to Cox Automotive estimates based on vehicle registration data, total used-vehicle sales in October decreased 3.5% year over year to 3.0 million units. Retail used-vehicle sales also decreased month over month in October, with one less selling day than September. Estimates based on registration data indicate that the used-vehicle sales pace — both total and retail — in October declined compared to the market’s pace… Read Article

used-vehicle SAAR Market Insights Data Point

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New-Vehicle Affordability Little Changed in October Despite Higher Interest Rates 11/15/2023 Income growth favored consumers enough in October to offset the impact of higher prices, lower incentives, and higher auto loan rates. New-vehicle affordability improved slightly month over month and year over year, according to the Cox Automotive/Moody’s Analytics Vehicle Affordability Index. “In October, strong income growth and smaller financed amounts helped the consumer overcome negative vehicle market dynamics,” said Cox Automotive Chief Economist Jonathan Smoke. The… Read Article

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

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Average New-Vehicle Prices Down 1.4% Year Over Year in October, as Healthy Inventories Help Buyers 11/13/2023 ATLANTA, Nov. 13, 2023 – In October, with a UAW strike underway but new-vehicle inventories on the rise, the average price paid for a new vehicle in the U.S. was $47,936, less than 1% more than the month earlier (revised to $47,797), according to Kelley Blue Book, a Cox Automotive company. Compared to one year ago, when incentives were near historic lows, average new-vehicle transaction prices in October… Read Article

ATP average transaction price new-vehicle prices Market Insights Data Point

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Used-Vehicle Inventory Remains Limited to Start November 11/10/2023 Used-vehicle inventory volume at the start of November was slightly higher than in early October but days’ supply remained flat, according to the Cox Automotive analysis of vAuto Available Inventory data. 2.30M Total UnsoldUsed Vehiclesas of Nov. 6, 2023 49 Days' Supply $26,533 Average Listing Price 69,971 Average Mileage The total supply of unsold used vehicles on dealer lots across the U.S. – franchised and… Read Article

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

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Auto Credit Availability Improved Again for Third Straight Month in October 11/10/2023 The Dealertrack Auto Credit Availability Index shows that access to auto credit improved in October for all types of auto loans. Credit access loosened across all channels and lender types this fall, continuing the trend that began in the summer. However, even though credit access improved, it was still tighter than a year ago and, in some channels, even tighter than pre-pandemic levels. The All-Loans Index… Read Article

credit consumer credit Dealertrack Credit Availability Index auto loans Market Insights Data Point

5 min read

New-Vehicle Inventory Rose Through October Despite UAW Strike 11/09/2023 Despite UAW strikes at several plants throughout the month, new-vehicle inventory at the start of November was even higher than in early October, according to Cox Automotive’s analysis of vAuto Available Inventory data. The UAW and Detroit automakers have reached tentative contracts and settled the strike. Workers are back on the job as they vote on new contracts. 2.40M Total Inventoryas of Nov. 6, 2023 67… Read Article

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

3 min read

Cox Automotive Analysis: Nissan Quarterly U.S. Market Performance 11/08/2023 To echo remarks by Nissan’s U.S. sales chief regarding recent quarterly vehicle sales, what a difference inventory makes. Indeed, having much-improved inventory after last year’s computer chip shortage resulted in substantial sales increases for Nissan and Infiniti in the U.S. and should benefit Nissan Motor globally when quarterly financial results are posted on Nov. 9. In the July-to-September quarter – the second quarter of the 2023… Read Article

Nissan market performance Market Insights Data Point

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