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Auto industry inventory levels sat between 1 million and 1.1 million vehicles for the sixth consecutive month in June, according to Cox Automotive.
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A recession won’t affect U.S. auto dealers and manufacturers until the 12- to 18-month range, says Jonathan Smoke, chief economist-Cox Automotive.
Read More →Consumers report higher satisfaction with digital financing tools and more willingness to complete part or all of the financing journey online in Cox Automotive’s Car Buyer Financing Journey Study.
Read More →According to the Cox Automotive June sales forecast, the seasonally adjusted annual rate (SAAR) of new-vehicle sales this month is expected to hit 13.8 million, up from last month’s 12.7 million pace but well below last year’s 15.5 million level.
Read More →Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) were essentially unchanged from May after the first 15 days of June.
Read More →U.S. automobile dealer sentiment in the second quarter of 2022 softened as U.S. auto dealers’ attention turned to inflation, high costs and tight inventory, marking the fourth straight quarter-over-quarter decline in market sentiment.
Read More →All major market segments saw seasonally adjusted prices that were higher year over year in May, except for pickups.
Read More →Gas prices hit an all-time high of a national average of $4.67 on June 1, driving consumers to consider electric vehicles, hybrids and smaller, more fuel-efficient gas-powered models.
Read More →New-vehicle affordability declined slightly in April despite revised data indicating stronger income gains, according to the latest Cox Automotive/Moody’s Analytics Vehicle Affordability Index.
Read More →The Fed delivered on expectations today by raising the target rate for the Federal Funds Rate by half of a percentage point and announcing the plan to start reducing its balance sheet starting on June 1.
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