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.

3 min read

Hybrids Still Dominate Electrified Vehicle Shopping, According to Kelley Blue Book 05/23/2023 Despite the massive attention on electric vehicles and new tax credits for them, hybrid vehicles continue to be more popular among vehicle shoppers, according to the Kelley Blue Book Brand Watch™ report for the first quarter of 2023. The Kelley Blue Book Brand Watch report is a consumer perception survey that also weaves in shopping behavior to determine how a brand or model stacks up with… Read Article

Kelley Blue Book Brand Watch Electrified Vehicles EV sales Market Insights Data Point

3 min read

Dealership Service Revenue and Ticket Volume Decreased in April, according to Xtime Metrics 05/22/2023 A recent analysis by Cox Automotive of Xtime metrics revealed that service activity and revenue at franchised dealerships in the U.S. decreased in April compared to the previous month. However, the Repair Order Revenue Index has increased compared to last year and reached a record high in March, while the Repair Order Volume Index has decreased compared to April 2022. The monthly Xtime volume and revenue… Read Article

Operations Service Fixed Ops Xtime Market Insights Data Point

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Wholesale Used-Vehicle Prices See Decrease in First Half of May 05/17/2023 Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 2.1% from April in the first 15 days of May. The midmonth Manheim Used Vehicle Value Index dropped to 225.9, which was down 7.0% from the full month of May 2022. The seasonal adjustment contributed to the decline. The non-adjusted price change in the first half of May declined 0.9% compared to April, while… Read Article

Manheim Used Vehicle Value Index MUVVI Market Insights Data Point

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CPO Sales Waver in April 05/16/2023 Certified pre-owned (CPO) sales in April fell more year over year than the overall used retail market. CPO sales decreased 4.2%, or over 9,000 units, from April 2022 to finish at 214,684. This total is down nearly 15,000 units, a 6% drop from March’s number. Year-to-date CPO sales remain up 6% compared to 2022. “April CPO sales took it on the chin compared to March, but… Read Article

CPO certified pre-owned CPO sales Market Insights Data Point

3 min read

New-Vehicle Affordability Improved Slightly in April 05/15/2023 New-vehicle affordability improved slightly in April and contributed to improving new-vehicle sales, according to the Cox Automotive/Moody’s Analytics Vehicle Affordability Index. Most factors helped as declining new-vehicle prices, increasing incentives and improving incomes offset a small increase in the average new auto loan rate. The typical monthly payment declined to the lowest level since October 2022. The number of median weeks of income needed to purchase… Read Article

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

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Estimated Monthly Used-Vehicle SAAR and Volume 05/15/2023 Total used-vehicle sales in April are estimated to be near 3.1 million units, down 1.7% from April 2022. The seasonally adjusted annual rate, or SAAR, is estimated to have finished near 34.5 million, down from last April’s 35.1 million level but up from March’s downwardly revised 34.2 million level. Total Used Volume and Used SAAR According to Charlie Chesbrough, senior economist at Cox Automotive: “The supply… Read Article

used-vehicle SAAR Market Insights Data Point

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Used-Vehicle Inventory, Prices Rise in April on Softening Sales 05/12/2023 The inventory of used vehicles edged higher at the end of April compared to March as the spring selling came to a close and sales slowed. However, supply remains below year-ago levels, according to the Cox Automotive analysis of vAuto Available Inventory data, and days of supply have slipped. Meanwhile, the average listing price climbed to nearly $27,000. 2.11M Total UnsoldUsed Vehiclesas of April 24, 2023… Read Article

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

6 min read

New-Vehicle Inventory Increases Again in April, Supporting Stronger Sales 05/11/2023 New-vehicle inventory closed April up from a month earlier to its highest level in two years, supporting surprisingly brisk sales, according to Cox Automotive’s analysis of vAuto Available Inventory data. Meanwhile, days of supply dipped on higher sales. The average listing price of a new vehicle returned to above $47,000 in April. 1.90M Total Inventoryas of April 24, 2023 53 Days' Supply $47,409 Average Listing Price… Read Article

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

4 min read

Auto Credit Availability Tightened in April 05/10/2023 Access to auto credit tightened in April, according to the Dealertrack Credit Availability Index for all types of auto loans. Following varied moves in vehicle channels and by lender in March, credit access tightened across all channels and all lender types in April. The All-Loans Index declined 1.5% to 96.8 in April, the lowest reading since February 2021 and reflected that auto credit was harder to… Read Article

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

5 min read

New-Vehicle Transaction Prices Decline as Automaker Incentives Hit Highest Point in a Year, According to Kelley Blue Book 05/09/2023 ATLANTA, May 9, 2023 – The average price Americans paid for a new vehicle in April remained below the manufacturer’s suggested retail price (MSRP) for the second consecutive month, according to data released today by Kelley Blue Book, a Cox Automotive company. The average transaction price (ATP) of a new vehicle in the U.S. remained relatively flat in April 2023 at $48,275, a month-over-month decrease of… Read Article

ATP average transaction price Market Insights Data Point

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