Welcome to the monthly Manheim Market Insights update. Jeremy Robb, senior director of Economic and Industry Insights at Cox Automotive, offers a monthly check-in on what we are seeing in the used wholesale and retail markets, all through the wide lens of the data available from Cox Automotive. This month’s video highlights the mid-month Manheim Used Vehicle … Continued
Electric vehicle sales in the U.S. grew by 11.3% year over year in the second quarter, reaching a record-high volume of 330,4631 units, according to new estimates from Kelley Blue Book. This growth was driven partly by improved availability, higher discounts and elevated levels of leasing. Total EV sales last quarter were higher than Q1 … Continued
A replay of the Q2 2024 Manheim Used Vehicle Value Index Call held on Tuesday, July 9, is available below. Cox Automotive Chief Economist Jonathan Smoke, Senior Director Jeremy Robb, and Scott Vanner, a senior analyst on the Economic and Industry Insights team, presented the latest Manheim Used Vehicle Value Index and the major economic and industry trends … Continued
ATLANTA – June 26, 2024 – Cox Automotive today announced the completion of the first phase in Central Dispatch’s transformation with the launch of Central Dispatch Enterprise, a customizable package of end-to-end capabilities designed for large automotive shippers and brokers. Featuring a proven private marketplace solution that’s already been used to move 400,000+ vehicles in … Continued
A replay of the 2024 Cox Automotive Mid-Year Review webcast held on Tuesday, June 25, is available below. Chief Economist Jonathan Smoke, Senior Economist Charlie Chesbrough, and other members of the Economic and Industry Insights team presented how the auto industry performed in the first half and what’s likely ahead, including updated 2024 Cox Automotive forecasts and the … Continued
Cox Automotive provides forecasts on the new and used vehicle markets, leasing, fleet and CPO sales, and the Manheim Used Vehicle Value Index. The full-year 2024 forecasts were presented during the Cox Automotive Mid-Year Review on June 25. The Economic and Industry Insights team reviews the forecasts quarterly and updates them as market changes dictate. … Continued
New research released today by Cox Automotive, the world’s largest automotive services and technology provider, reveals that nearly 75% of automobile shoppers in the market for a vehicle expect the outcome of the U.S. presidential election in November to impact the economy. The findings underscore a high level of uncertainty in the auto market – … Continued
Despite immense challenges during the pandemic and microchip shortage years, dealers will acknowledge it was the best time to be in the new car business, akin to an unforgettable college rager. They enjoyed an unprecedented financial boom, with return on sales soaring from 2% to over 6% at most publicly traded auto groups. To put … Continued
Welcome to the monthly Manheim Market Insights update. Jeremy Robb, senior director of Economic and Industry Insights at Cox Automotive, offers a monthly check-in on what we are seeing in the used wholesale and retail markets, all through the wide lens of the data available from Cox Automotive. This month’s video highlights the mid-month Manheim Used Vehicle … Continued
ATLANTA, June 10, 2024 – The latest Cox Automotive Dealer Sentiment Index (CADSI) remained stable from Q1 to Q2 2024 despite dealer uncertainty in the market and economy. The Q2 current market index score of 42 indicates most U.S. auto dealers see the market as weak. One year ago, the index was 45, also below … Continued