Almost immediately after COVID-19 was declared a global pandemic, automakers pulled out their playbook from the Great Recession and quickly put in place aggressive incentives like zero-percent financing for 84 months to buoy sales. Now, as vehicle sales are recovering and production can’t keep up with demand, automakers and dealers are dialing back the spiffs. … Continued
New vehicles in the range of $30,000 to $40,000 are in the shortest supply while those priced below $30,000 have the highest inventory, according to a Cox Automotive analysis of list prices based on vAuto Available Inventory data. The days’ supply of unsold new vehicles in that mid-price category was down to 55 last week. … Continued
Fiat Chrysler Automobiles (FCA) reports second-quarter 2020 financial results Friday, July 31, and analysts are forecasting a loss likely larger than the $1.83 billion posted in the first quarter of this year. Here are key data points from Cox Automotive on FCA’s second-quarter performance in the U.S. market where the company derives the bulk of … Continued
Cox Automotive Executive Vice President and vAuto Founder Dale Pollak and Chief Economist Jonathan Smoke, along with special guests discuss on the latest market insights and essential steps your dealership needs to take now to prepare for the headwinds likely ahead.
Ford Motor Co. reports second-quarter 2020 earnings Thursday, July 30, after the stock market closes. The results will be dismal, as Ford has already hinted very publicly that its operating loss will drop deep into the red, perhaps one of the worst quarters in the company’s 100-plus year history due to plant shutdowns caused by … Continued
Cox Automotive is conducting ongoing research to understand the evolving impact of COVID-19 on U.S. consumers’ and dealers’ attitudes and behaviors. The COVID-19: Consumer and Automotive Dealer Impact Study addresses COVID-19 awareness, familiarity and level of concern, the impact on everyday behaviors and business operations, the impact on current auto shoppers and commuters as well … Continued
General Motors reports second-quarter 2020 financial results on Wednesday, July 29. Like most other automakers, GM is expected to post a loss due to the coronavirus pandemic that forced the shutdown of plants and significantly lowered sales. Here are data points from Cox Automotive on GM’s second-quarter market performance in the U.S., where the company … Continued
Strong demand for used vehicles has caused retail used-vehicle inventories to slump to new lows, according to a Cox Automotive analysis of vAuto Available Inventory data. “Limited supply in both new and used vehicles is the next hurdle on the path to recovery for automakers and dealers,” said Cox Automotive Senior Economist Charles Chesbrough. The … 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 July and general information on segment performance for the first … Continued
U.S. inventories of new pickup trucks – large and small – are extremely low, with Toyota having barely any supply of the popular Tacoma and Tundra, according to a Cox Automotive analysis of vAuto Available Inventory data. Full-size pickups trucks had only a 69 days’ supply as of July 6, according to Cox Automotive data. … Continued
