Predicting the future has long been a hazardous business, as crystal balls are more often anything but crystal clear. Indeed, consider any forecast offered in January 2020: An economy-crashing pandemic was not in the cards. Still, as we face a new year, the Research & Market Intelligence team at Cox Automotive has given thought to … Continued
Cox Automotive Chief Economist Jonathan Smoke and our Industry Insights team hosted a special webcast – “Cox Automotive Industry Insights 2021” – today, January 8, at 11 a.m. EST. The focus of our event was a review of both the new- and used-vehicle markets for 2020, as well as our forecasts for the year ahead. Afterward, we turned our … Continued
Good riddance, 2020! We’re closing the books on auto sales this week, and we’re glad to have our pandemic year in the rearview mirror. Our team is forecasting sales to end near 14.4 million, down roughly 15% compared to 2019 and putting 2020 on par with 2012, when the market was recovering from the Great … Continued
Derived from a quarterly survey that Cox Automotive issues to a representative sample of franchised and independent auto dealers from around the country, the Cox Automotive Dealer Sentiment Index (CADSI) measures dealer perceptions of current retail auto sales and sales expectations for the next three months as “strong,” “average” or “weak.” The survey also asks … Continued
Welcome to Dealer Forward: Reimagining Automotive Retail, a panel discussion that focuses on building resilience in three key auto retail areas – marketing, dealership performance and fixed operations. In this week’s episode, Vice President of Sales, Dealer Sales and Service Solutions Chase Abbott and Senior Director of Performance Management and Operations Mark Vickery sit down … Continued
The Cox Automotive team is analyzing November auto sales data this week, with initial results coming in roughly as forecast before the Thanksgiving holiday. With fewer selling days compared to November 2019 and last month, sales volume is expected to take a step back after improving for five straight months. Cox Automotive Senior Economist Charlie … Continued
Can you hear that chorus of retailers singing, “It’s the most wonderful time of the year”? Thanksgiving is a couple of days away, but we are already seeing it: Christmas trees at Lowe’s, Holiday Deals on Amazon, and plenty of television ads with Santa leading a fleet of white cars with red bows – as … Continued
Shopping for luxury SUVs soared to new heights in the third quarter, a trend likely to continue with the onslaught of upcoming new models, according to the Kelley Blue Book Brand Watch™ report for the luxury segment. The Brand Watch Report is a consumer perception survey that also weaves in consumer shopping behavior to determine … Continued
Shopping consideration for SUVs revved up again in the third quarter, boosted by new entries like the Toyota Highlander and stalwarts like the Honda CR-V and Toyota RAV4, according to the Kelley Blue Book Brand Watch™ Report for the non-luxury segment. The Brand Watch Report is a consumer perception survey that also weaves in consumer … Continued
October U.S. auto sales were forecast by Cox Automotive to be up year over year, driven mostly by ongoing consumer demand for pickup trucks and SUVs. Initial results on Tuesday, Nov. 3, indicate that sales would close near forecast and, importantly, year-over-year sales growth, albeit small, is keeping the industry’s recovery on course. Year-to-date sales are now … Continued
