Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 1.04% month-over-month in September. This brought the Manheim Used Vehicle Value Index to 139.9, flat from a year ago and off the record high for the Index. Weekly Manheim Market Report (MMR) prices showed increasing depreciation as September progressed. The majority of … Continued
Automakers began reporting September and Q3 sales results today, with more expected to follow tomorrow. Initial reports indicate September sales volume will be down, as our Industry Insights team forecast last week. With fewer selling days versus September 2018, year-over-year comparisons were expected to show volume declines. The sales pace, however, is forecast to remain strong in September, … Continued
A call replay of the Cox Automotive Q3 Auto Sales Call hosted by Chief Economist Jonathan Smoke, Senior Economist Charlie Chesbrough, Executive Analyst Michelle Krebs and Research Manager Zo Rahim is available now. During the call, the team discussed key economic indicators driving the auto market and provided a forecast and analysis of new- and used-vehicle sales for … Continued
An ideal set of market conditions are emerging that provide independent dealers with maximized floor planning opportunities. First, we are experiencing the longest sustained period of economic expansion on record in United States’ history, boasting 122 consecutive months of growth. Second, during their Federal Open Marketing Committee meeting yesterday, the Federal Reserve announced another 0.25 … 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 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 dealers to rate new-car sales … Continued
The United Auto Workers union’s contract with General Motors as well as Ford and Fiat Chrysler expires at 11:59 pm Saturday, Sept. 14. The union has chosen GM as its strike target, negotiating a contract with GM as a general pattern before moving onto the other Detroit automakers. If a strike occurs, GM has enough … Continued
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 0.62% month-over-month in August. This brought the Manheim Used Vehicle Value Index to 141.3, a 1.2% increase from a year ago and a record high for the Index.After seeing stability in July in weekly Manheim Market Report (MMR) prices, depreciation returned in … Continued
Our August U.S. auto sales forecast called for the month to finish at 1.59 million, up 6.5% from last year, or an increase of nearly 100,000 units. Several of the reporting automakers posted numbers above our forecast with numerous models achieving “best-ever August” sales. As mentioned in our forecast, the market benefited from an extra selling day, Labor … Continued
Fiat Chrysler Automobiles is ending production of the Fiat 500 and electric 500e in North America – with good reason. FCA said it will wind down production of the models at its plant in Toluca, Mexico, and sell off the remainder of the inventory, a process that likely will go into next year. Sales of … Continued
As expected, the United Auto Workers union chose General Motors as its strike target in the current negotiations for a national contract to replace the one that expires September 14. As a result, the UAW will focus its negotiations with GM. Once those negotiations are completed, the union will turn its attention to Ford and … Continued
