10 Predictions for the 2022 U.S. Vehicle Market
The Cox Automotive Insights team looks at key industry trends ahead that overall point to a healthy year.
The Cox Automotive Insights team looks at key industry trends ahead that overall point to a healthy year.
Analysis: A big drop of 20% to 30%, as one report suggests, is highly unlikely. History tells us a decline of more than 10% is rare indeed.
The average price paid for a new non-luxury vehicle in December 2021 was $43,072, slightly down from the record high set in November but still $900+ over sticker.
Combined sales into large rental, commercial, and government buyers were down 32% year over year in December and down 4% full-year 2021 versus 2020.
Manheim Forecast: Tax refunds and a supply-constrained market will likely lead to another round of price increases in the first half of 2022
Fleet sales year to date are also down 42% from the same time in 2019 when 2.8 million vehicles were sold.
The automotive parts shortage that the industry is experiencing today goes far beyond just the shortage of microchips. Today, there is a wide cross-section of automotive parts that are in short supply varying by type of part and make and model of vehicle.
The combined auction companies will have 39 locations across 19 states, making it a new powerhouse in the remarketing industry.
The portal enhancements eliminate delays and downtime for customers who want instant, reliable access to transport and real-time updates on the status and location of their vehicles.
During the first 15 days of December, the Manheim Used Vehicle Value Index hit 239.8, a 49% increase from December 2020.
Available inventory edged slightly higher but remain below normal.
One of the biggest changes to come out of the second year of the COVID-19 pandemic is dealers directly wholesaling from their lots.
With record-high prices, low incentives, and a higher interest rate, the estimated typical monthly payment increased to a new record high at $687, which was up 20.7% year over year.
Despite constrained inventory, the used-vehicle market has been playing a key role in the automotive industry recovery.
A larger mix of SUVs and pickups helped drive up prices in November, but November was also the sixth straight month of sales volume declines.
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