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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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F&I Showroom Magazine
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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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Winter and Christmas sales events make for a busy end of year for dealers, but the last two weeks of the year are traditionally slow for the auctions and that held true this year.
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So far the omicron variant has not impacted consumer sentiment or economic activity but creates some uncertainty as winter begins.
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As calendar year 2021 comes to a close, wholesale prices continue to rise, and noticeable differences can be seen compared to prior calendar years.
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Edmunds predicts 15.2 million new cars sales in 2022, a 1.2% increase from its 2021 vehicle sales estimate.
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The J.D. Power Valuation Services Used Vehicle Price Index reached an all-time high in November.
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While November began with a slight increase in inventory levels from September’s all-time lows, limited vehicle availability continues to keep sales well below current demand.
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As we head into the last month of the year, used retail listings have stabilized around 16% below where we started the year.
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Experian’s "State of the Automotive Finance Market: Q3 2021" report finds delinquencies remain lower than pre-pandemic levels.
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November’s seasonally adjusted annual rate of sales is forecast to finish near 13.4 million, down 16% from last year when the sales pace was 15.9 million.
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Days-to-turn for used retail listings have slightly increased and now sits just above 38 days, which is still lower than what is typically expected.
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