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July Was Hot for Auto Borrowers
Credit proved readily available for many, but most loans left buyers in negative territory, Cox Automotive said.
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SEARCHMENUSEARCHCredit proved readily available for many, but most loans left buyers in negative territory, Cox Automotive said.
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This June, ZeroSum data shows that new vehicle inventory levels remain flat, while used vehicle inventory decreased almost two percent.
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Used Retail Prices are more accessible than in years past, due to the proliferation of ‘no-haggle pricing’ for used-vehicle retailing, according to Black Book.
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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.
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For the first time since the week of April 18th, the overall market reported softening last week.
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Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) were essentially unchanged from May after the first 15 days of June.
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GM and Ford top execs say U.S. consumer demand for cars and trucks remains strong, despite soaring interest rates and gas prices.
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General Motors and Ford Motor Co. CEOs say they are watching for signs of a U.S. recession, despite demand for autos being strong.
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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.
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Compact Cars continue to perform very well along with Sub-Compact Crossovers, but the gas-guzzling Full-Size SUV segments continue to experience the heaviest depreciation, as demand in the lanes wanes for these vehicles.
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Index reverses a 3-month slide and increases to 188.8 points in May 2022 as tight new inventory and record low incentives push used wholesale prices up across most segments.
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