October 2022

We are continuing to see volatility in order dates and production dates due to chip and material shortages. Production windows are greatly shortened in many cases.

Remarketing is still showing higher than usual residual values.

These factors greatly benefit those fleets (owned & leased) with a comprehensive & proactive cycling plan. If you have questions about yours please don’t hesitate to reach out.​​​​​

 

We will be attending the following event the next month:

 

Price growth is slowing. The average listing price for a used vehicle was $28,237 at the end of September, up from the revised $28,064 at the end of August. That price is only $1,686, or 6%, ahead of a year ago. - Graphic: Cox Automotive

Used-Vehicle Market Stabilizes Supply, Prices

The total supply of unsold used vehicles on dealer lots, both franchised and independent dealers, across the U.S. stood at 2.46 million units at the close of September, about the same as the revised number at the end of August and 10% higher than September 2021.

The total days’ supply at the end of September stood at 50, compared with the revised 52 days’ supply at the end of August. Days’ supply in September was 8 days above year-ago levels. Used-vehicle inventory has been holding at about this level since mid-January.

The Cox Automotive days’ supply is based on the daily sales rate for the most recent 30-day period, in this case, ended Sept. 26. Sales were 1.48 million vehicles, compared to the revised 1.43 million at the end of August. For the month of September, Cox Automotive estimates used retail sales declined 8% from August and are down 10% from a year ago.

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Image for article titled New Jersey Bill Takes a Soft Stand Against In-Car SubscriptionsImage for article titled New Jersey Bill Takes a Soft Stand Against In-Car SubscriptionsImage for article titled New Jersey Bill Takes a Soft Stand Against In-Car SubscriptionsImage for article titled New Jersey Bill Takes a Soft Stand Against In-Car Subscriptions

New Jersey Bill Takes a Soft Stand Against In-Car Subscriptions
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Assembly Bill No. 4519 introduced last month by NJ Assemblyman Paul Moriarty (D – Camden and Gloucester) intends to strengthen the state’s Consumer Fraud Act by making it illegal for automakers to impose subscriptions for safety and convenience features, if the components that enable them are already pre-installed in the vehicle. You know, like BMW recently trialed and others have fantasized about doing for luxuries like heated seats and high-beam assist.

There is one major caveat to Moriarty’s bill as it is written, which is that it makes provisions for features that function “with ongoing expense to the dealer, manufacturer, or any third-party service provider.” If the particular add-on is a “live” service, or something that requires active investment or development from somebody, then a subscription model would be permitted.

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Does the future of the automotive industry look secure?

Automotive sector innovation and rollout investments are on the rise. Enterprises in this industry have been using technology to improve efficiency, reach new markets and optimise supply chains. However, by embracing digital innovation and new technologies, the market is rapidly becoming exposed to new kinds of threats.

As the automotive sector undergoes a shift driven by new personal mobility technologies, cyber security has in turn grown in importance. Self-driving vehicles constitute a huge target area for malicious actors. The chaos a criminal would cause by infiltrating the network that directs these vehicles would be enormous. It is more important than ever to avoid IP losses and to prevent competitors from getting their hands on confidential manufacturing data.  But what are the consequences of these attacks, and how should automotive manufacturers best prevent them?

You can learn more here