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The Industry Insights team at Cox Automotive is forecasting first-half auto sales to be down 24.2% versus the first half of 2019 – a bad result that might have been worse without aggressive incentive spending by the automakers. In total, incentive program volume was down in the first half of 2020 compared to both 2018 and 2019. … Continued
On Thursday, June 25, Ford Motor Company will reveal an all-new version of perhaps the most important vehicle in the world: The full-size F-150 pickup truck. A new F-150 from Ford is a moment, as the Blue Oval’s big truck has long been what Michelangelo’s David is to statues or Pat’s is to Philly cheesesteaks: … Continued
Given the current turbulence in the automotive marketplace, the Cox Automotive Economic & Industry Insights team is publishing its mid-month view of the wholesale market, including wholesale prices. The posted material provides commentary and an updated look at the Manheim Used Vehicle Value Index for June and general information on segment performance for the first 15 … Continued
Another surprisingly strong month of sales in May, combined with the fact that auto assembly plants around the globe are still ramping up and not all are at full production, has left inventories low, especially for trucks and specific automotive brands, notably Toyota, according to a Cox Automotive analysis. June sales have been relatively strong, … Continued
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 8.96% month over month in May. This brought the Manheim Used Vehicle Value Index to 137.0, a 1.9% decrease from a year ago. Access the full report. The latest update of the Manheim Used Vehicle Value Index is released on the fifth … Continued
Sales of certified pre-owned (CPO) vehicles decreased 6% year over year in May but were up 87% month over month compared to April. For May, 237,495 CPO units were sold. CPO sales were on a record-setting pace the first two months of the year before COVID-19 put the brakes on auto sales. Reflecting huge decreases in … Continued
Year-over-year fleet sales continued its remarkable decline compared to the prior year as the combined rental, commercial and government purchases of new vehicles were down 83.2% in May. Total fleet volume in May was 52,203, down significantly from 311,202 in May 2019. Rental units led the drop with a 91.3% decrease year over year in … Continued
Auto sales in May finished at 1,110,609, according to an estimate from Cox Automotive and Kelley Blue Book. The total is down 30.2% from May 2019, but an increase of 57% from April 2020. The sales results last month came in slightly higher than the Cox Automotive forecast, which called for sales to be off … Continued
Signs of an economic recovery are growing as markets slowly reopen and businesses hit the relaunch button. Automotive retail, likewise, continues to slowly improve, driven by pent up demand and the belief that vehicle ownership is essential, particularly in the time of a pandemic. As we close the books on May, the question our team is asking: Was Memorial Day weekend a good one for dealers and consumers? The answer is “yes” and “no.” … Continued
Nissan Motor Co. in Japan reports financial results on Thursday, May 28, for the quarter and fiscal year that ended March 31. Nissan also will unveil its 3-year restructuring plan that day. Even before the global pandemic, Nissan expected weak results for its recent fiscal year. Ahead of those expected weak results, Nissan said it … Continued