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Toyota reported earnings last week for the quarter ended March 31, a date that also marked the end of the Japanese automaker’s fiscal year. Toyota reported operating profit fell 28% in the quarter, while net income plunged by 86%. Toyota executives warned that annual profits for this current fiscal year, which ends March 31, 2021, … 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 May and general information on segment performance for the first 15 … Continued
Sales of certified pre-owned (CPO) vehicles decreased 46% year over year in April. CPO sales were on a record-setting pace for the year before COVID-19 and ended down 20% month over month compared to March. For April, only 127,068 CPO units were sold.The 46% drop in CPO volume was larger than both the estimated 34% drop … Continued
American Honda reports earnings for its full fiscal year and the quarter that ended March 31 on Tuesday, May 12, at the same time that the automaker begins re-openings its U.S. plants. Here are some data points from Cox Automotive on Honda’s first quarter in the U.S., one of its major markets. Q1 sales and … Continued
An unexpectedly strong close to April sales, combined with the shutdown in auto production due to COVID-19, has left the U.S. auto industry with much lower inventory volume than a month ago. General Motors and Toyota, in particular, show potentially problematic declines in truck inventory. Cox Automotive Senior Economist Charlie Chesbrough explains: “How much inventory … Continued
Industry experts, including those on the Cox Automotive Industry Insights team, have long been expecting digital retailing to transform the automotive retail process. It’s what consumers have been demanding and, in all business, consumers eventually get what they want. Cox Automotive has been a leader in providing digital retailing solutions for years now, and many … Continued
Year-over-year growth in fleet sales began a strong decline compared to the prior year as combined rental, commercial and government purchases of new vehicles were down 70.1% in April. Total fleet volume in April was 72,084, down significantly from 240,914 in April 2019. Rental units led the drop with a 76.6% decrease year over year … Continued
General Motors posts first-quarter 2020 financial results on Wednesday, May 6. The automaker already has signaled a tough quarter, as it suspended its dividend and stock buybacks. Here are some data points from Cox Automotive on GM’s first-quarter market performance in the U.S., where the company derives the bulk of its profits. Sales and market … Continued
As Fiat Chrysler prepares to re-open its plant in North America, it will report its first-quarter 2020 financial results on Tuesday, May 5. Here are some data points from Cox Automotive on FCA’s first-quarter performance in the U.S. market where the company derives the bulk of its profits. Sales and market share FCA sales dropped … Continued
Ford Motor Co. reports its first-quarter 2020 earnings Tuesday, April 28, after the stock market closes. The automaker’s financial performance will be no surprise. Ford signaled weeks ago that it likely would lose $2 billion in the quarter due to the COVID-19 pandemic. Here are some data points from Cox Automotive on Ford’s first-quarter performance … Continued