Ford reports third-quarter 2020 financial results Wednesday, Oct. 28, after the stock market closes. Despite the pandemic, analysts expect relatively healthy earnings on the strength of solid sales in North America, where profit-hefty pickup trucks and SUVs are going gangbusters, and Europe, where Ford likely narrowed its losses. Here are key data points from Cox … Continued
Fiat Chrysler Automobiles on Wednesday posted net income of $1.4 billion in the third quarter, including a record profit in North America despite lower sales. Analysts expected relatively healthy earnings, considering the pandemic, on the strength of robust truck and SUV sales in North America. Here are key data points from Cox Automotive on FCA’s … Continued
Despite rising COVID-19 cases in many states, concerns about the pandemic seem to be waning and, in many cases, are being replaced by concern over the upcoming presidential election. Among U.S. automobile dealers, 43% believe COVID-19 and the upcoming election are both equally concerning, according to a study released today by the Cox Automotive Research … 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 October and general information on segment performance for the first … Continued
Sales of certified pre-owned (CPO) vehicles increased nearly 10% year over year in September but were down 6% month over month compared to August. For September, 224,536 CPO units were sold. The CPO market has been one of the strongest performing segments within the auto retail market. Consumer demand has improved from the peak of … Continued
If there’s one word to describe the U.S. automobile business, it might well be resilient. From a pretty awful Q2, when much of the industry was closed and sales volume had dropped by an alarming amount, auto sales came roaring back in Q3. Analysts across the country are remaking their forecasts – Cox Automotive analysts … Continued
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 1.58% month over month in September. This brought the Manheim Used Vehicle Value Index to 161.2, a 15.2% increase from a year ago. Access the full report. For 25 years, the MUVVI has been the definitive source on the state of the used … Continued
The month-over-month improvement resumed in September with 124,930 total fleet volume sales up from 101,159 in August. Combined rental, commercial and government purchases of new vehicles were down 34%, or 64,916 units, year over year in September. Government units were up 40% year over year, on a small base, while rental units were down 62% … Continued
The number of incentive programs available to consumers in Q3 increased significantly from Q2, according to data from the Cox Automotive Rates & Incentives team. Incentive program volume – literally a count of the number of different incentive programs in the market each month, but not the value of the programs – hit record levels in … Continued
With the supply of new vehicles falling every week, some favorite vehicles are in extremely short supply, but others have abundant – even overabundant – inventory that could represent good value and wide choice for consumers. In total, new-vehicle inventory slipped again last week, down to 56 days’ supply from 58 only two weeks ago, … Continued
