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Fed Rate Policy Liftoff Set; Auto Loan Conditions Likely to Become Less Favorable 01/26/2022 The Fed is moving to tighten U.S. monetary policy in 2022. At its first Fed meeting of the year, the Fed announced that it will soon be appropriate to raise the target rate for the Federal Funds Rate. The Fed’s language was an indication that rate increases could begin in March, which is when the next scheduled meeting will occur. That is also following the end of… Read Article

Market Insights Smoke on Cars Economy & Trends

Cox Automotive January Forecast: U.S. Auto Sales Volume Holds Steady, Inventory Levels Remain Tight 01/26/2022 ATLANTA, Jan. 26, 2022 – New-vehicle sales in January are expected to reach 1.01 million units, a drop of 8.9% compared to January 2021, according to a forecast released today by Cox Automotive. The January pace of U.S. auto sales, or seasonally adjusted annual rate (SAAR), is forecast to show a sizable month-over-month improvement and finish near 15.3 million, up from 12.4 million in December, which was the slowest pace since May 2020. Improvement in… Read Article

new-vehicle sales sales forecast SAAR Press Releases

Strong Finish: EV Sales Mark New Record in Fourth Quarter Of 2021 01/25/2022 New-vehicles sales in 2021 increased less than 4% compared to 2020, but sales of electrified vehicles continue to surge. In all, nearly 1.5 million electrified vehicles – the combined total of EVs, hybrids and plug-in hybrids – were sold in the U.S. last year. In the fourth quarter, sales of pure battery-electric vehicles jumped 72% to a record 147,799 – the best quarter ever for EVs,… Read Article

Electric Vehicles EVs EV Electrified Vehicles Market Insights Data Point

Auto Market Weekly Summary 01/24/2022 COVID-19 cases, driven by the omicron variant, surged to record levels in January but peaked last week and started to decline. COVID-19, inflation, wintery weather and stock market volatility have weighed on consumer sentiment, but it too began to improve by the end of last week. New jobless claims increased again due to omicron. New construction rose in December, and strong housing permit activity sets up… Read Article

Market Insights Smoke on Cars Economy & Trends

Podcast: Jonathan Smoke Shares His Take on 2022 Used-car Market 01/21/2022 Auto Remarketing Podcast, Jan. 21, 2022 – Cox Automotive chief economist Jonathan Smoke is back on the show to help make sense of the mixed signals that wholesale vehicle prices have shown at the start of 2022. Plus, Auto Remarketing editor Joe Overby and Smoke talk about the growth in what Cox Automotive has dubbed "New Form Online Retailers" and all things used cars. Listen to… Read Article

News Coverage

10 Takeaways from U.S. Auto Sales: 2021 01/21/2022 Our Kelley Blue Book team has finished their final tally of 2021 auto sales in the U.S. market. Total volume by the Kelley Blue Book count came in at 15,061,885, a solid year by historical standards. But it was far from an easy 15 million. Demand was there, and sales volumes in March, April and May were among the best in the past decade. Inventory then… Read Article

Sales new-vehicle sales U.S. auto sales Market Insights Data Point

Used-Vehicle Days’ Supply Breaks 50; Average Listing Price Surpasses $28,000 01/20/2022 Used-vehicle inventory rose in December with the days’ supply hitting 51 for the first time since January 2021, and the average listing price exceeding $28,000 for the first time ever, according to the Cox Automotive analysis of vAuto Available Inventory data. 2.38M Total UnsoldUsed Vehiclesas of December 27 51 Days' Supply $28,205 Average Listing Price 69,737 Average Mileage The total supply of unsold used vehicles on… Read Article

Inventory used-vehicle inventory Market Insights Data Point

Dealership Service Volume Increases, Revenue Hits New High in December, according to Xtime Metrics 01/20/2022 Service centers at U.S. franchised dealerships were busier in December than in November, according to the latest analysis of Xtime metrics. Both the Repair Order Volume Index and the Repair Order Revenue Index increased in December versus November. Repair order volume remains well below pre-pandemic levels, but revenue per repair set another record high. The monthly Xtime volume and revenue metrics are designed to showcase average… Read Article

Operations Service Fixed Ops Xtime Market Insights Data Point

Cox Automotive Auto Market Report: January 19 01/19/2022 The video below is part of a biweekly Auto Market Report series focusing on data and insights that provide a holistic view of the auto industry. Chief Economist Jonathan Smoke leads our effort to translate data and trends into actionable insights. Download this week’s presentation. Read Article

Market Insights Smoke on Cars

Commentary: 3 Growth Opportunities for Independent Dealers in 2022 01/19/2022 Auto Remarketing, Jan. 19. 2022 – Scott Maybee, president of NextGear Capital, writes in an opinion piece about the distinct challenges and unique opportunities that he expects independent dealers to face in the year ahead. In this article, Maybee also offers his take on how independents can continue to evolve in order to take advantage of growth opportunities in the current market. He acknowledges that there… Read Article

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