Cox Automotive is forecasting 1.38 million U.S. auto sales in July, which would represent a 0.5% increase from the same time last year.
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Improvements in infotainment systems and increased availability of advanced driver assistance systems are making customers increasingly satisfied with their new vehicles, according to the J.D. Power 2019 Automotive Performance, Execution and Layout Study.
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Swapalease credit approvals registered 65% entering July, a drop from the 72.4% approval rate registered in May, the company announced.
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Wholesale vehicle depreciation saw an uptick last week, as the car segment in particular saw a decrease in values, according to Black Book's July 15 Market Insights report.
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Wholesale vehicle depreciation continued to accelerate last week, a trend that is expected to continue for the next few weeks, as seasonal patterns take hold, according to Black Book's July 8 Market Insights report.
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Lower depreciation among luxury cars helped decelerate overall car segment depreciation, while truck segment depreciation remained stable.
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Car values continued to weaken and truck values strengthened last week, as the summer months approach.
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Overall car segment values decreased 0.36% last week, compared to 0.31% the week prior. Overall truck segment values decreased 0.16%, compared to 0.08% last week.
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The Used Retention Index for May was 114.4, which represented a 0.7% increase from the month before. This was the first increase of 2019.
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With the exception of luxury vehicles, most vehicle segments saw stable values last week.
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