Sales of certified pre-owned (CPO) vehicles increased 9% year over year in June and were up 10% month over month compared to May. For June, 261,586 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 … 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
Year-over-year fleet sales continued its remarkable decline as the combined rental, commercial, and government purchases of new vehicles were down 69% in June. Total fleet volume was 85,104, down significantly from 277,615 in June 2019. Rental units continue to lead the drop with a 94.5% decrease year over year in June. The dismal June rental … Continued
New-vehicle inventories in the U.S. closed June at new recent lows, despite auto assembly plants cranking back up after lengthy spring shutdowns due to the COVID-19 pandemic, according to a Cox Automotive analysis of vAuto Available Inventory data. The total U.S. supply of unsold new vehicles stood at 2.55 million units at the end of … Continued
We can all agree: It’s good to have the first half of 2020 in the rearview mirror. It will be remembered for all the wrong reasons, and all of us at Cox Automotive are hoping the second half of this not-great year has more ups than downs. Our Kelley Blue Book data team has crunched … Continued
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 8.95% month over month in June. This brought the Manheim Used Vehicle Value Index to 149.3, a 6.3% increase from a year ago and a new record-high for the Index. Access the full report. Watch a replay of the Q2 Manheim Used … Continued
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
