Autonomy continues to expand in the Golden State. The electric vehicle subscription company — which says it is the “cheapest, fastest and easiest way to get a Tesla Model 3” — said in news release Wednesday that its services have launched in Bakersfield, Calif. Autonomy launched in Los Angeles in January, then the San Francisco […] [Read More]

Though there was a bit of improvement from April, used-vehicle sales in May were down double-digit percentages on a year-over-year basis, says Cox Automotive, noting that spikes in interest rates, fuel costs and vehicle prices have dampened the market. The average APR on a used vehicle rose to 9.23% in May, up from 9.16% in April, according […] [Read More]

May’s soft certified pre-owned vehicle sales performance may be more than just a speed bump. The CPO market is likely headed to its softest year in close to a decade Following four consecutive month-over-month gains to start 2022 on a high note, the 208,423 CPO sales in May marked a … [Read More]

Even dealerships are having some trouble keeping a bright outlook amidst the notable headwinds we’re all facing nowadays. According to the latest reading of the Cox Automotive Dealer Sentiment Index (CADSI), U.S. automobile dealer sentiment in the second quarter softened, as U.S. dealers’ attention turned to inflation, high costs and tight inventory. Analysts said the […] [Read More]

For the second year in a row, Cherokee Media Group’s Nick Zulovich tracked down Cox Automotive chief economist Jonathan Smoke after appearing at the Non-Prime Auto Financing Conference hosted by the National Automotive Finance Association. The conversation covered auto financing, used-vehicle prices, inflation and, of course, some musical references, too. To listen to the conversation, click […] [Read More]

If you’re waiting for used-car prices to come down any time soon, don’t hold your breath. Given market dynamics — like reduced vehicle availability, competition in the auction lanes and consumers still buying cars but keeping their current rides — J.D. Power Valuation Services director of market intelligence David Paris says … [Read More]

J.D. Power made an assertion that might frustrate service advisors and managers at franchised dealerships. Based on the J.D. Power 2022 U.S. Aftermarket Service Index (ASI) Study, vehicle owners say the ease of doing business with an aftermarket service facility is a key reason they choose them rather than a franchised dealer for some types […] [Read More]

After three months of sequential declines, wholesale vehicle prices edged higher in May and remain well above year-ago levels. The Manheim Used Vehicle Value Index was at [Read More]

According to a report from S&P Global Mobility (previously the auto team at IHS Markit), the average age of light vehicles in operation has climbed for five consecutive years, reaching a record age of 12.2 years as of Jan. 1, 2022. So, perhaps it’s not surprising that the automotive aftermarket continues to demonstrate its market […] [Read More]

According to Experian’s State of the Automotive Finance Market report, Michigan continued to pace the nation during first quarter with 61.5% of new-vehicle financing originated in that state being a lease. Two other states known for heavy leasing activity weren’t far off that mark, as Experian reported last week that … [Read More]