Despite our industry’s strong start in the first half of 2023, we experienced some challenges during the second half of the year due to rising interest rates, tight vehicle supplies and a weakened economy. Much of this was beyond our control. But what we can control is putting Manheim’s diverse portfolio of physical, digital and … Continued
A record 1.2 million U.S. vehicle buyers chose to go electric last year, according to estimates from Kelley Blue Book, a Cox Automotive company. More specifically, 1,189,051 new electric vehicles (EVs) were put into service as the slow shift to an electrified future continued unabated. In 2023, the EV share of the total U.S. vehicle … Continued
A replay of the 2024 Cox Automotive Industry Insights webcast held on Monday, January 8, is available below. Jonathan Smoke and the Industry Insights team provided a comprehensive update on the automotive industry for the new year. This session covered the new, used, and wholesale markets for 2023, along with insights and data from Cox Automotive … Continued
Due to audience overlap, the topline highlights from the Manheim Used Vehicle Value Index and the 2024 forecast are being included in the Cox Automotive Industry Insights 2024 Webcast taking place today, Jan. 8, 11 a.m. EST. In place of a live Manheim Used Vehicle Value Index call, the Industry Insights team is providing the deep dive … Continued
ATLANTA, Jan. 3, 2024 – For the U.S. auto market, the word that will likely sum up 2024 is “normalcy,” according to Cox Automotive’s Forecast: 2024. Powered by the best data and keenest insights, Cox Automotive developed five themes that offer a collective vision and valuable perspective on the road ahead for the U.S. auto … Continued
Join Cox Automotive Chief Economist Jonathan Smoke, Senior Economist Charlie Chesbrough, and the Industry Insights team for Cox Automotive Industry Insights 2024, a special webcast recapping 2023 and providing a 2024 outlook. Monday, Jan. 8 11 a.m. EST. This 60-minute session will provide a comprehensive update on the U.S. auto industry, covering the new, used, and … Continued
CNBC, Dec. 16, 2023 – A car loses about 10% of its value as soon as it’s driven off the lot. And within the first three years, that number goes up to 50%. Depreciation — the rate at which that happens — is one of those numbers everyone in the automotive world thinks about, including … Continued
The Cox Automotive Monthly Industry Update is produced by the Cox Automotive Economic and Industry Insights team with the goal of providing a holistic look at the auto industry’s performance each month in video format. In Episode 17, Cox Automotive Manager of Economic and Industry Insights Mirlene Jean-Simon is joined by Rebecca Rydzewski, research manager, … Continued
A decade from now, when we look back at the years immediately following the global COVID pandemic of 2020, we’ll be awed by the dramatic swings and unprecedented circumstances the economy and auto market endured. To name a few, we saw historic appreciation in vehicle values, unimagined drops in supply, and interest rates moving from … Continued
ATLANTA, Dec. 7, 2023 – The Cox Automotive Dealer Sentiment Index (CADSI) reveals a significant decrease in U.S. auto dealer sentiment in Q4 2023 compared to Q3. This decline is attributed to the ongoing adverse effects of high interest rates and a weakening economy on the automotive market. The latest survey illuminates several areas where … Continued