Cox Automotive | Auto Finance News | Auto Finance News

Off-lease volume to peak this year

The volume of off-lease vehicles returning to market is expected to peak at 4.1 million this year and again in 2020, Jonathan Smoke, Cox Automotive’s chief economist, said in the second-quarter Used Vehicle Value Index conference call. “Off-lease maturities grew by 1.7 million units between 2014 and 2018,” Smoke said. “This year, we expect the […]

Lenders likely to withstand threat of aging vehicles, analysts say

The average vehicle age in the U.S. continues to climb, yet lenders have little to worry about, analysts said. The average age of light vehicles in operation has risen to 11.8 years, thanks to better technology and overall vehicle quality improvements, Mark Seng, director of IHS Markit‘s global automotive aftermarket practice, said in a press […]

New-car prices inch up, EV prices tumble in June

New-vehicle prices climbed 3% year over year, averaging $37,285 in June, according to Kelley Blue Book. KBB analysts attributed the transaction price growth to the persistent demand for trucks and SUVs, pushing both sales and prices in those segments. In fact, light trucks and SUVs are estimated to account for more than 70% of June […]

Clutch Technologies debuts fleet-valuation tool for subscription service providers

Clutch Technologies, a software company focused on subscription and mobility services, launched two tools this week for dealers and manufacturers to manage fleet size, mix, and usage. The first product addresses fleet valuation by leveraging remarketing data from Cox Auto subsidiaries Manheim, Kelley Blue Book, and Cox Automotive Data Solutions (CADS). The tool provides wholesale […]

Chinese Tariffs to Complicate Underwriting, Slow Innovation, Analyst Says

In addition to increasing vehicle prices, the 25% tariffs imposed on Chinese parts and goods by the Trump administration will complicate the underwriting process for lenders and slow down innovation in the auto industry, Jonathan Smoke, chief economist at Cox Automotive, told Auto Finance News. “Americans aren’t suddenly making 10% or 25% more income,” Smoke […]

Decline in Used-Vehicle Inventory Dampens Dealer Sentiment

Used-car sales – a driver behind recent market strength – may slow as used-vehicle inventories shrink, according to Cox Automotive’s second-quarter Dealer Sentiment Index report published last week. “If market strength is being driven by used vehicles, can used-vehicle sales remain strong considering declining inventory?” Cox Auto Chief Economist Jonathan Smoke said in a statement. […]

Tariffs Continue to Rattle Auto Industry

PLANO, Texas — The threat of tariffs on Mexican imports could have lasting implications for new-vehicle prices and vehicle value depreciation, said Cox Automotive’s Chief Economist Jonathan Smoke at the Nonprime Auto Finance Conference yesterday. “Tariffs will be very detrimental to the market, leading to higher prices and fewer vehicles sold — essentially causing the […]

FCA Proposed Merger With Renault Could Lead to Captive Discussions

Fiat Chrysler Automobiles’ merger proposal to Groupe Renault is likely to lead to discussions of creating a captive finance arm to “support the level of volume the new organization could attain,” Zohaib Rahim, manager of economics and industry insights at Cox Automotive, told Auto Finance News. “Last year, [former FCA Chief Executive] Sergio Marchionne mentioned […]
Page 1 of 712345 » ...Last »