The auto market and the broader economy depend on a seasonal bump provided by the more than 100 million Americans who receive tax refunds each spring. This spring, however, could be very different. Due to last year’s tax reform, some consumers may be surprised to learn they are receiving no tax refund, a smaller one … Continued
We released December Manheim Used Vehicle Value Index (MUVVI) yesterday and closed the door on what was a truly remarkable year for used-vehicle values. As we started the year, we told you to expect a 3 percent increase in the MUVVI in 2018, and we told you to expect a roller coaster ride with weakness … Continued
The new year kicked off with positive reports on new-vehicle sales and the job market. Still, the economy and auto market are less certain with more risks to the downside in 2019. Looking ahead: While 2018 was a very strong year for both the economy and vehicle sales, it will be nearly impossible to repeat. … Continued
Cox Automotive President Sandy Schwartz (far left) hosted a panel at the Atlanta Economics Club last month of the top execs from Atlanta’s locally-headquartered auto manufacturers: (l-r) Larry Dominique, president and CEO, PSA North America Inc.; Klaus Zellmer, CEO, Porsche USA; and Deitmar Exter, CEO, Mercedes-Benz USA. Before this panel, I provided a high-level overview … Continued
The December 2018 Cox Automotive Industry Update Report shares Cox Automotive’s multifaceted insight into the automotive marketplace to provide an overview of economic indicators, supply, demand, credit and other vital topics and trends affecting the industry. ECONOMIC INDICATORS Inflation in November came in as expected. The core CPI, which excludes Food and Energy, increased again … Continued
After the December increase, the discount rate, which the Federal Reserve controls, was up 100 basis points year over year. With this fourth quarterly increase, the Fed has increased rates more times in 2018 than any time since 2006. The last time it raised rates more was in 2005 when it increased eight times, totaling … Continued
Jonathan Smoke, Chief Economist at Cox Automotive, provides an update on the 8 Key Trends that, earlier in the year, he predicted would have the greatest impact on how the automotive industry performs in 2018. Now that we are close to wrapping up the year, we are revisiting those trends to see how things have … Continued
Derived from a quarterly survey that Cox Automotive issues to a representative sample of franchise and independent auto dealers, the Cox Automotive Dealer Sentiment Index measures dealer perceptions of current retail auto sales and sales expectations for the next three months as “strong,” “average” or “weak.” The survey also asks dealers to rate new-car sales … Continued
The November 2018 Cox Automotive Industry Update Report shares Cox Automotive’s multifaceted insight into the automotive marketplace to provide an overview of economic indicators, supply, demand, credit and other vital topics and trends affecting the industry. ECONOMIC INDICATORS Based on preliminary estimates from the University of Michigan, consumer sentiment barely declined in November despite stock … Continued
The October 2018 Cox Automotive Industry Update Report shares Cox Automotive’s multifaceted insight into the automotive marketplace to provide an overview of economic indicators, supply, demand, credit and other vital topics and trends affecting the industry. ECONOMIC INDICATORS Several states from Florida to Virginia experienced devastation from Hurricane Michael. However, the nature of this fast-moving … Continued
