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
You can visualize the relentless rise of new-vehicle prices in the U.S. market in many ways. Average transaction price – ATP – is a common measure, showing the amount consumers pay for a vehicle. Or look to the average monthly loan payment for a new vehicle, which was $566 in 2019, up 3.4% from the … Continued
Given the current turbulence in the automotive marketplace, the Cox Automotive Economic & Industry Insights team is publishing today its first-ever mid-month view of the wholesale market. This new commentary updates the Manheim Used Vehicle Value Index (MUVVI), Manheim Market Report (MMR), MMR Retention, and segment performance for the first 15 days of April.The complete … Continued
Like the new- and used-vehicle markets, the CPO market struggled last month as mandated stay-at-home orders and dealership closings severely hampered vehicle sales. Sales of certified pre-owned (CPO) vehicles decreased 40% year over year in March. CPO sales were on a record-setting pace for the year before COVID-19 and ended down 33% month over month … Continued
Now that mandated stay-at-home orders have become the norm in many parts of the country – the right thing to do – all of us are finding ways to keep busy and entertained, including car shopping. The Cox Automotive Industry Insights team took a look at visitor traffic on Cox Automotive’s two largest websites – … Continued
