Key Highlights Retail Sales The initial retail sales report for September showed a stronger-than-expected and accelerating 0.4% monthly gain in consumer spending. Residential Construction Trends Residential construction trends were weakly negative in September as both permits and starts declined, but both were expected to see small declines. Labor Market Seasonally adjusted initial jobless claims declined … Continued
According to an analysis of Cox Automotive’s vAuto Live Market View data estimates, retail used-vehicle sales in September1 decreased by 9% month over month from August. A total of 1.4 million used vehicles were sold at retail – from both franchised and independent dealers – during September, a 5% year-over-year increase. Days’ supply of used vehicles at the … Continued
According to the Cox Automotive analysis of vAuto Live Market View data, used-vehicle inventory levels at the start of October were lower than in September. 2.15M Total UnsoldUsed Vehiclesas of Oct. 3, 2024 47 Days’ Supply $25,361 Average Listing Price 71,918 Average Mileage As October opened, the total supply of used vehicles on dealer lots – franchised … Continued
This has been the year of automotive market “blips.” In just the last four months, we have seen an industry-wide disruption due to a cyber breach, two major hurricanes within two weeks of each other, and significant selling-day variations in the last two months. And let’s not forget business disruptions in both factories and the … Continued
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 0.3% from September in the first 15 days of October. The mid-month Manheim Used Vehicle Value Index increased to 203.5, down 2.8% from the full month of October 2023. The seasonal adjustment reduced the results for the month. The non-adjusted price change in … Continued
New-vehicle affordability was unchanged in September, as various factors offset any potential benefits for consumers, according to the Cox Automotive/Moody’s Analytics Vehicle Affordability Index. “Even with a larger-than-expected rate cut by the Fed in September, there hasn’t been a material improvement in auto loan rates or the overall affordability of new vehicles,” said Cox Automotive … 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 September as credit loosened across most channels and all lender types, marking the end of a five-month decline, according to the Dealertrack Credit Availability Index. The All-Loans Index was 92.8 in September, up 0.4% from the August reading but down 2.1% year over year. Dealertrack Credit Availability Index1 Auto … Continued
Key Highlights Inflation Headline inflation, according to the consumer price index (CPI), increased 0.2% in September, which was more than expected. New-Vehicle Prices and Incentives New-vehicle prices and incentives showed mixed trends. Used-Vehicle and Wholesale Prices Used retail sales estimates based on vAuto data indicate that volumes were down month over month but up year … Continued
According to new estimates from Kelley Blue Book, electric vehicle (EV) sales in the U.S. grew by 11% year over year in the third quarter and reached record highs for both volume and market share. According to the latest counts, an estimated 346,3091 EVs were sold in Q3 2024, a 5% increase from Q2. The … Continued