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New-Vehicle Affordability Declines to New Low in September 10/15/2021 With market dynamics leading to record prices and at least a two-decade-low for incentives, new-vehicle affordability declined again in September. With income growth stalling, the decline in affordability is accelerating. The number of median weeks of income needed to purchase the average new vehicle in September increased to 40.8 weeks from an upwardly revised 39.2 weeks in August. Cox Automotive/Moody’s Analytics Vehicle Affordability Index September 2021… Read Article
Vehicle Affordability Index Cox Automotive/Moody's Analytics Vehicle Affordability Index VAI vehicle affordability Market Insights Data Point
2 min read
New-Vehicle Affordability Declines to New Low in August 09/15/2021 With market dynamics leading to record prices and at least a decade-low for the month of August in incentives, new-vehicle affordability declined again in August. Without improving incomes, the decline in affordability would have been even worse. The number of median weeks of income needed to purchase the average new vehicle in August increased to 37.7 weeks from a downwardly revised 37.3 weeks in July. COX… Read Article
Vehicle Affordability Index VAI vehicle affordability Market Insights Data Point
2 min read
New-Vehicle Affordability Declines to Record Low in July 08/16/2021 With market dynamics leading to record prices and a nine-year low in incentives, new-vehicle affordability declined this spring and has hit record lows in each of the last two months. Without improving incomes and favorable interest rates, the decline in affordability would have been even worse July. The number of median weeks of income needed to purchase the average new vehicle in July increased to 37.4… Read Article
Vehicle Affordability Index VAI vehicle affordability Market Insights Data Point
2 min read
New-Vehicle Affordability Declines to New Low in June 07/15/2021 With market dynamics leading to record prices and record low incentives, new vehicle affordability declined this spring. In addition, with waning stimulus support, affordability declined in June to a new low on the affordability index, which dates to 2012. The number of median weeks of income needed to purchase the average new vehicle in June increased to 37.0 weeks in June from an upwardly revised 35.5… Read Article
Vehicle Affordability Index VAI vehicle affordability Market Insights Data Point
2 min read
New-Vehicle Affordability Declines Again in May 06/15/2021 With extremely strong vehicle demand this spring resulting in ever-tightening supply, new-vehicle affordability would have had challenges with higher prices and lower incentives. Adding in the effect of waning stimulus support, affordability declined again in May and reached challenging levels last seen in December 2013. The number of median weeks of income needed to purchase the average new vehicle increased to 35.5 weeks in May from… Read Article
Vehicle Affordability Index Cox Automotive/Moody's Analytics Vehicle Affordability Index VAI vehicle affordability Market Insights Data Point
2 min read
New-Vehicle Affordability Declines in April 05/17/2021 Breaking a streak of five straight months of improvement, new-vehicle affordability declined in April. The number of median weeks of income needed to purchase a new vehicle increased to 33.8 weeks from an upwardly revised 32.4 weeks in March. Click image to enlarge. In April, the price paid was modestly higher and the average financing rate also slightly increased, so the monthly payment increased. Median incomes… Read Article
Vehicle Affordability Index Cox Automotive/Moody's Analytics Vehicle Affordability Index VAI vehicle affordability Market Insights Data Point
2 min read
Vehicle Affordability Improves Again in March 04/15/2021 For the fifth straight month, affordability improved in March, according to the Cox Automotive/Moody's Analytics Vehicle Affordability Index. The number of median weeks of income needed to purchase a new vehicle declined to 31.8 weeks from an upwardly revised 32 weeks in February. The index shows that new vehicles have become relatively more affordable since October 2020, when the affordability index reached 35.3 weeks, the high… Read Article
Vehicle Affordability Index Cox Automotive/Moody's Analytics Vehicle Affordability Index VAI vehicle affordability Market Insights Data Point
2 min read
Vehicle Affordability Improves Again in February 03/15/2021 Affordability improved in February, as represented by median weeks of income needed to purchase a new vehicle declined to 31.7 weeks from 32.5 weeks in January. The Cox Automotive/Moody’s Analytics Vehicle Affordability Index continues to show that new vehicles have become relatively more affordable since October 2020, when the affordability index reached 35.3 weeks, the high point for the calendar year 2020. Click image to enlarge.… Read Article
Vehicle Affordability Index Cox Automotive/Moody's Analytics Vehicle Affordability Index VAI vehicle affordability Market Insights Data Point
1 min read
Vehicle Affordability Improves for Third Consecutive Month in January 02/15/2021 Affordability improved in January, as represented by median weeks of income needed to purchase a new vehicle declined to 32.2 weeks from 33.9 weeks in December. The Cox Automotive/Moody’s Analytics Vehicle Affordability Index continues to show that new vehicles have become relatively more affordable since October 2020, when the affordability index reached 35.3 weeks, the high point for the calendar year 2020. Click image to enlarge.… Read Article
Vehicle Affordability Index Cox Automotive/Moody's Analytics Vehicle Affordability Index VAI vehicle affordability Market Insights Data Point
2 min read
Vehicle Affordability Improves Again in December 01/15/2021 Affordability improved in December, as represented by median weeks of income needed to purchase a new vehicle declined to 32.2 weeks from 33.8 weeks in November. The index was below the mid-point for the extreme highs and lows experienced in 2020 as every key variable (price paid, interest rate, incentives, and income) had substantial shifts throughout the year. Click image to enlarge. In addition to higher… Read Article
Vehicle Affordability Index Cox Automotive/Moody's Analytics Vehicle Affordability Index VAI vehicle affordability Market Insights Data Point