Cox Automotive: Estimated Monthly Used-Vehicle SAAR and Volume
The seasonally adjusted annual rate is estimated to be near 36.2 million, down from last August’s 40.8 million level and below July’s revised 38.3 million pace.
The seasonally adjusted annual rate is estimated to be near 36.2 million, down from last August’s 40.8 million level and below July’s revised 38.3 million pace.
COX AUTOMOTIVE – Total used-vehicle sales in August are estimated to be near 3.1 million units, down 11.4% from August 2021, according to Cox Automotive. The seasonally adjusted annual rate (SAAR), or sales pace, is estimated to be near 36.2 million, down from last August’s 40.8 million level and below July’s revised 38.3 million pace. Used retail sales are estimated to be lower in August.
TOTAL USED VOLUME AND USED SAAR
According to Charles Chesbrough, senior economist at Cox Automotive: “Higher prices and higher interest rates are slowing sales in the used market. Sales of used vehicles will face increasing headwinds throughout 2022 as rising interest rates continue slow economic activity.”
Retail used-vehicle sales — the volume of vehicles sold via a dealership, thus removing private party sales — are estimated to be down 11.4% from August 2021. The used retail sales pace ticked down to 19.1 million in August from July’s revised 20.2 million level.
TOTAL USED RETAIL VOLUME AND USED RETAIL SAAR
Year to date, the total used market is currently on pace to finish the year down more than 12% from the 40.6 million recorded in 2021.
Originally posted on F&I and Showroom
More Dealer Ops
Ladies and Gentlemen, This Is a Dealership: Why the Fundamentals Still Decide Who Wins
A teaching moment by a legendary football coach happens to apply perfectly in the auto retail space. Learn what it is and how to use it to your store’s advantage.
Read More →
Timing the Market Can Hurt Long-Term Program Performance
For dealer-owned reinsurance entities, avoiding volatility entirely can mean falling behind inflation and missing market rebounds that drive long term surplus growth. Missing just a handful of strong market days can materially impact cumulative returns—an important reminder for long horizon trust and investment strategies.
Read More →
Dealer Ads and the FTC
The agency has made it clear in recent enforcement actions and warnings, in auto retail and other industries, that advertised prices must include all nonoptional costs to the consumer.
Read More →
Used Autos Supply Dwindles
The March shopping surge, despite high prices, cut into inventory by the most since the thick of the pandemic, Cox Automotive analysts calculated.
Read More →
Managing Risk Effectively Through Changing Times
The variables influencing risk pricing have changed significantly over the past five years. Being proactive and responsive to emerging trends is not optional but essential.
Read More →
Survey Reveals What Won't Fix What's Breaking Car Sales
AutoPayPlus says extra-long auto loans are trapping consumers and threatening the dealer trade-in cycle, and that the industry is leveraging the wrong tools to combat high MSRPs.
Read More →
IA American Appoints Two Execs
Senior vice presidents of the company's agent and dealer channels chosen to support general agents and help auto dealers with sales and performance.
Read More →
Cox Automotive Acquires Inspection Firm
Full ownership of Alliance Inspection Management, or AiM, meant to unlock growth for Manheim inspection capabilities
Read More →
Assurant Expands Partnership With Holman
Extended collaboration delivers training, products and performance development to 30 newly acquired Holman dealerships
Read More →
Franchises, Throughput Down in First Half
A handful of states see franchise growth through June, while EV sales per store boost overall business in U.S.
Read More →