The Cox Automotive Economic and Industry Insights team looks forward to providing even more actionable and thought-provoking insights in 2025. Register now for the Cox Automotive Industry Insights and Forecast 2025 call, scheduled for Tuesday, Dec. 17, at 11 a.m. EST. Traditionally, the Industry Insights webcast is hosted in January to kick off the new year. This year, the event … Continued
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 1.6% from October in the first 15 days of November. The mid-month Manheim Used Vehicle Value Index increased to 206.1 and is now showing a gain of 0.5% from the full month of November 2023. The seasonal adjustment amplified the results for the … Continued
Key Highlights Inflation Rises The auto industry is experiencing price dynamics influenced by inflation trends. Retail Sales Increase The auto sector showed robust performance in retail sales, outpacing the broader market. Auto Loan Performance Remains Weak Auto credit is likely to remain tight because auto loan performance continues to be weak. Consumer Sentiment Improves The … Continued
New-vehicle affordability improved in October as interest rates declined, incentives increased, and income gains all favored the consumer, according to the Cox Automotive/Moody’s Analytics Vehicle Affordability Index. October had the best vehicle affordability level since August 2021. “Auto loan rates are beginning to decline, offering some relief to consumers,” said Cox Automotive Chief Economist Jonathan Smoke. … Continued
According to an analysis of Cox Automotive’s vAuto Live Market View data estimates, retail used-vehicle sales in October1 increased by nearly 7% month over month from September. A total of 1.4 million used vehicles were sold at retail – from both franchised and independent dealers – during October, up 12% year over year. Days’ supply of used vehicles … Continued
According to the Cox Automotive analysis of vAuto Live Market View data, used-vehicle inventory levels at the start of November were higher than in October but lower than in early November 2023. 2.17M Total UnsoldUsed Vehiclesas of Nov. 4, 2024 45 Days’ Supply $25,499 Average Listing Price 70,326 Average Mileage As November opened, the total supply of … Continued
The election is over and decisive. Consumer sentiment, according to Morning Consult, has improved for five straight months and is at the highest level in three and a half years. Indeed, October sales in the automotive industry saw an increase of 13% over the same time last year, and yet, new-vehicle inventory continues to rise. … Continued
The average transaction price (ATP) paid for a new vehicle in the U.S. in October was $48,623, according to new data from Kelley Blue Book. Transaction prices last month were higher than the revised September price ($48,423) and higher by 1.7% from year-earlier levels ($47,826). For more than a year now, new-vehicle prices in the … Continued
Cox Automotive’s Auto Market Report video delivers a comprehensive analysis of the current automotive market. Chief Economist Jonathan Smoke leads our effort to translate data and trends into actionable insights. This video covers a wide range of topics, including consumer spending patterns, consumer sentiment, retail vehicle sales, financing rates, supply dynamics, pricing trends and leading … Continued
Access to auto credit increased in October as credit loosened across all channels and across all lender types, according to the Dealertrack Credit Availability Index. The All-Loans Index was 94.5 in October, up 2.2% from the September reading but down 2.1% year over year. This marks the largest month-over-month increase in auto credit access since … Continued