Cox Automotive Makes 10 Top Predictions for 2023
Analysis: In house experts look at recent research, business intelligence, and a wide segment of first-party data to distill some likely trends for the automotive market.
Analysis: In house experts look at recent research, business intelligence, and a wide segment of first-party data to distill some likely trends for the automotive market.
The total supply of unsold used vehicles on dealer lots, both franchised and independents, across the U.S. stood at 2.33 million units at the end of November, about 4% higher than a year ago.
Higher interest rates are constraining affordability, and the number of potential buyers for used vehicles is declining when comparing 2022 to 2021.
The push to accurately quantify the costs of an EV fleet will depend on line items both fixed and variable, with some yet to be standardized.
All eight major market segments again saw seasonally adjusted prices that were lower year over year last month, with compact cars showing the smallest decline.
In the middle of historic changes, are subscriptions and car sharing the path for mass electric vehicle adoption?
Declines in Manheim Market Report prices, days' supply, and average daily sales conversion rates are following typical patterns for November.
Days’ supply in October was 26% above year-ago levels. Used-vehicle inventory has been holding at about this level since mid-January.
Rising interest rates are taking some potential buyers out of the market.
Most loan types saw loosening in October, but certified pre-owned loans loosened the most month over month and year over year.
All eight major market segments saw seasonally adjusted prices that were lower year over year in October.
The supply issues plaguing automotive are ameliorating month over month, but to varying degrees depending on fleet type.
Supply and demand shifts over the last two years have had ripple effects on purchasing patterns, the condition of used assets, and pricing.
The slowing economy has driven average vehicle sale and floor prices past a turning point compared to last year.
All eight major market segments saw seasonally adjusted prices that were lower year over year in the first half of October.
As vintage Chevrolet trucks increase in popularity with enthusiasts, more trucks are going up for auction and sale prices for the most coveted trucks keep increasing. As we look back at 100 years of Chevy truck history, here’s a gallery of the nine most expensive Chevrolet trucks sold at Barrett-Jackson auctions to date. Photos courtesy of General Motors.
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