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COVID-19 BUSINESS UPDATES

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13-Month Rolling Used-Vehicle SAAR

As another data point to monitor the health of the automotive market, Cox Automotive calculates a 13-month rolling used-vehicle seasonally adjusted annual rate (SAAR). According to Cox Automotive estimates, total used-vehicle sales volume was up 4.4% year over year in February. We estimate the February used SAAR to be 39.8 million, up from 39.4 million last February … Continued

Fleet Sales up Slightly in February, Continue to Track Lower Year Over Year

Year-over-year growth in fleet sales continue to track lower than last year even as combined rental, commercial and government purchases of new vehicles were up 2.7% in February. Total fleet volume in February was 278,561, up slightly from 271,130 in February 2019. Commercial vehicle sales were up 8.7% year over year in February. Retail sales of … Continued

2020 Starts With Highest CPO Sales for January in a Decade

Sales of certified pre-owned (CPO) vehicles increased 8% year over year in January, starting the year off with the highest CPO sales for January in a decade. For the month, 215,959 CPO units were sold according to an analysis of Motor Intelligence data, down 8% month over month compared to December, which is typically a … Continued

January Fleet Sales Reflect Expected Slowdown

Fleet drove the strength in the new-vehicle market for 2019 whereas 2020 is expected to be more moderate. Combined rental, commercial and government purchases of new vehicles were down 5.3% year over year in January. Total fleet volume in January was 205,926, down from 217,500 in January 2019. Commercial vehicle sales were up 3.7% year … Continued

CPO Beats Sales Forecast, Sets All-Time Record in 2019

Certified pre-owned (CPO) sales volume set another record in 2019 – marking the ninth consecutive year of record-breaking sales. CPO sales reached 2.80 million vehicles in 2019, up 4% from 2018, exceeding the Cox Automotive forecast of 2.75 million.   2019 was the last big year of growth in off-lease units as we reached a total … Continued

December CPO Sales End Year at Record Level

Sales of certified pre-owned (CPO) vehicles increased 5% year over year in December. For the month, 235,921 CPO units were sold, down 1% month over month compared to November, which set another CPO sales record for the year.  2019 ended the year with CPO sales up 4% versus 2018, with 2.8 million sales through December and … Continued

Average Days in Inventory for Used Vehicles Up Slightly for the Year

It is important to look at average days in inventory for retail used vehicles because as used retail inventory ages, dealers begin to slow wholesale purchases. We took a look back at used-vehicle inventory levels over the past three years. 2019 started with the lowest days in inventory in January with 74 days and ended the … Continued

Fleet Volume Continues to Cool Off in December

Fleet was the driver of strength in the new-vehicle market for 2019 but continued to cool off in December. Combined rental, commercial, and government purchases of new vehicles were down 0.7% year over year in December. Commercial fleet sales were the strongest segment, up 14% in December. Total fleet volume in December was 220,034, down from … Continued

CPO Sales Jump In November, Record In Sight

Sales of certified pre-owned (CPO) vehicles increased 15% year over year in November and were up 3% month over month compared to October. For the month, 237,467 CPO units were sold. This year CPO sales are up 4% versus 2018, growing at a comfortable pace above 2018’s record-setting performance and exceeding 2.5 million sales through November. … Continued

Fleet Sales Continue to Cool Off, Still Up for the Year

Strong fleet sales have supported the new-vehicle market this year, but growth is slowing down. Combined rental, commercial and government purchases of new vehicles were down 9.3% year over year in November. Total fleet volume in November was 184,793, compared to 203,777 in November 2018. Through November, fleet sales are up 3.2% and still on … Continued