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8 min read
U.S. Auto Dealer Sentiment Improves in Q1, but Current Market View Remains Weak as Profit Pressures Replace Inventory Woes
03/13/2024
ATLANTA, March 13, 2024 – The Cox Automotive Dealer Sentiment Index (CADSI) shows that current market sentiment improved slightly in the first quarter compared to the fourth quarter of 2023, increasing from 40 to 42, but remains well below the 50 threshold, indicating most dealers see the current market as weak. The survey’s current market index is largely driven by profitability, customer traffic and costs. Of…
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Cox Automotive Dealer Sentiment Index
CADSI
Press Releases
8 min read
Cox Automotive’s Car Buyer Journey Study Shows Satisfaction With Car Buying Improved in 2023 After Two Years of Declines
01/31/2024
ATLANTA, Jan. 31, 2024 – Cox Automotive’s annual Car Buyer Journey (CBJ) Study reveals that satisfaction with the vehicle shopping and buying experience improved in 2023 after declining in both 2021 and 2022. This is good news for automobile dealers, who will gather in Las Vegas starting Thursday, February 1, for the National Automobile Dealers Association’s annual convention. Cox Automotive will be the largest exhibitor at NADA…
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Car Buyer Journey
Press Releases
8 min read
Cox Automotive’s Forecast: 2024 – A Return to Normalcy in the U.S. Auto Market
01/03/2024
ATLANTA, Jan. 3, 2024 – For the U.S. auto market, the word that will likely sum up 2024 is “normalcy,” according to Cox Automotive’s Forecast: 2024. Powered by the best data and keenest insights, Cox Automotive developed five themes that offer a collective vision and valuable perspective on the road ahead for the U.S. auto industry. Running throughout the five themes is a welcome return to…
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sales forecast
Press Releases
7 min read
U.S. Auto Dealer Sentiment Tumbles in Q4, as Continued Concerns Over Interest Rates and the Economy Cloud Future Prospects
12/07/2023
ATLANTA, Dec. 7, 2023 – The Cox Automotive Dealer Sentiment Index (CADSI) reveals a significant decrease in U.S. auto dealer sentiment in Q4 2023 compared to Q3. This decline is attributed to the ongoing adverse effects of high interest rates and a weakening economy on the automotive market. The latest survey illuminates several areas where dealer sentiment has dipped to all-time lows after showing relative stability…
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Cox Automotive Dealer Sentiment Index
CADSI
Press Releases
8 min read
Cox Automotive Service Study: Dealerships Losing Ground to General Repair Shops as Costs and Visit Frequency Increase
12/05/2023
ATLANTA, Dec. 5, 2023 – New research released by Cox Automotive today on the U.S. vehicle service industry shows that franchised dealerships continue to lose share to general repair shops. In the latest report – Under the Hood: Opportunities and Challenges in the Service Industry – franchised dealerships are shown to retain their position as the industry’s top service provider but have lost ground to service…
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Service
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1 min read
Used Car Dealer Podcast Episode 56: Navigating the 2024 Used Car Market with Cox Automotive’s Senior Director Industry Insights
01/22/2024
In this episode of the Used Car Dealer Podcast, Zach Klempf interviews Jeremy Robb, senior director of Economic and Industry Insights at Cox Automotive. They delve into the dynamic shifts in the automotive market, focusing on the trends and challenges of 2023, the evolving landscape of used vehicle values, the critical role of data in decision-making within the industry, and 2024 predictions. Watch the episode
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News Coverage
1 min read
Why Do Cars Lose Their Value So Fast
12/19/2023
CNBC, Dec. 16, 2023 – A car loses about 10% of its value as soon as it’s driven off the lot. And within the first three years, that number goes up to 50%. Depreciation — the rate at which that happens — is one of those numbers everyone in the automotive world thinks about, including consumers, automakers and the massive used car market, which made up…
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News Coverage
1 min read
Cox Automotive Reveals Streamlined Portfolio for Effortless Dealership Management | Ken Kraft
11/20/2023
CBT News, Nov. 20, 2023 – Cox Automotive plays a critical role in maintaining the complex network of dealers, manufacturers, and vendors that comprise the modern automotive industry. Not only does the company provide essential services and insights to those in the car business, but it also remains at the forefront of technological innovation and market research, ensuring the sector can continue to evolve and adapt. On…
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News Coverage
Commentary & Voices
1 min read
CarDealershipGuy Podcast: What’s Next for Car Prices and Auto Lending? | Jonathan Smoke, Chief Economist at Cox Automotive
09/20/2023
Cox Automotive Chief Economist Jonathan Smoke joins CarDealershipGuy Podcast to discuss the state of auto lending and what's to come, how interest rates are impacting the car industry, the No. 1 issue for car shoppers right now, the best and worst car deals on the market, what a UAW strike could mean for the auto industry, winners and losers in the EV space and will used-car…
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News Coverage
Smoke on Cars
1 min read
How the United Auto Workers Strike Could Impact Q4 Sales — Jonathan Smoke | Cox Automotive
09/19/2023
CBT News, Sept. 19, 2023 – Encouraging news of improving sales and affordability over the third quarter arrived amidst a backdrop of concern over a possible labor strike as the deadline for United Auto Workers leaders and Detroit-Three car manufacturers to negotiate a contract drew steadily closer. Now, 13,000 employees are staging a walkout at Stellantis, General Motors and Ford plants across the country, threatening not only…
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News Coverage
Smoke on Cars
1 min read
Why Digital Titling Solutions Are Crucial for Dealership Success
08/22/2023
CBT News, Aug. 22, 2023 – Titling can be a complex and time-intensive part of the car purchase process. With strong sales volumes expected in the back half of the year and car buyers wanting to spend less time at the dealership, the time is now for managers to devise more efficient strategies. On this episode of Driving Solutions, host Jim Fitzpatrick is joined by Kaitlin…
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News Coverage
1 min read
EV Inventory Reaches Critical Mass in U.S.
06/30/2023
Automotive News, June 30, 2023 – Electric vehicles have reached critical mass, outpacing average days' supply of gasoline vehicles at dealerships, according to Cox Automotive, but some dealers still need convincing. EVs are no longer exclusive to the new-vehicle market, said Chief Economist Jonathan Smoke. EV emergence in the used and wholesale market gives them more staying power, he said. "Up until now, this has been…
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Electric Vehicles
EVs
Electrified Vehicles
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1 min read
Car Prices Are Starting to Ease as Pandemic Supply-Chain Issues Fade
06/30/2023
Bloomberg, June 30, 2023 – The US new-car market is returning to pre-pandemic norms as supply-chain issues resolve, forcing carmakers to ramp up deals to sustain sales growth. The annual pace of new-car sales likely rose to 15.6 million in June, from 13 million a year ago, according to the average forecast of seven market researchers. Cox Automotive raised its full-year forecast to 15 million, from…
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News Coverage
1 min read
Vehicle Shortages Explained, Car Price Predictions & That Time CDG Bought 50 Chevys — Jonathan Smoke
05/12/2023
CarDealershipGuy Podcast, May 12, 2023 — Cox Automotive Chief Economist Jonathan Smoke joins CarDealershipGuy for a wide-ranging discussion on the automotive industry covering inventory, pricing and how the pandemic has permanently transformed the industry and more. Here's the rundown: Intro (00:51) Our unique market environment (04:12) Jonathan's background (08:45) The Great Digitization (11:46) That time CDG bought 50 Chevys at auction (13:40) Are we in a…
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News Coverage
Smoke on Cars
1 min read
Affordability, EVs, and Digital Retailing: Q1 Performance Sheds New Light on Old Topics – Brian Finklemeyer
04/26/2023
CBT News, April 26, 2023 – As the industry adapts to an unfamiliar automotive landscape, what new challenges will dealers need to face? On this episode of Inside Automotive, Brian Finkelmeyer, senior director of new car solutions at Cox Automotive, joins anchor Jim Fitzpatrick to discuss the most important takeaways from the last three months of automotive retail performance and what they signal for the future.…
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