Earlier this week, our team posted its new-vehicle sales forecast for September and the third quarter. Overall, as our senior economist Charlie Chesbrough notes, many analysts can’t help but be ‘pleasantly surprised’ with industry performance so far. There are certainly headwinds blowing in the automotive business, but our industry – thanks in large part to … Continued
A replay of the Q3 2023 Cox Automotive Industry Insights and Sales Forecast Call held on Tuesday, Sept. 26, is available below. Chief Economist Jonathan Smoke and the Economic and Industry Insights team shared data and insights regarding the performance of the consumer, industry, and economy in the third quarter, including updated 2023 Cox Automotive forecasts and the Cox Automotive Q3 and … Continued
The Q3 Cox Automotive Industry Insights and Sales Forecast call will be hosted Tuesday, Sept. 26, at 11 a.m. EDT, shortly before the auto industry closes the book on the third quarter. In the upcoming webinar, Chief Economist Jonathan Smoke and the Economic and Industry Insights team will share valuable data and insights regarding the performance of the consumer, industry, and economy in the … Continued
Cox Automotive Chief Economist Jonathan Smoke joins CarDealershipGuy Podcast to discuss the state of auto lending and what’s to come, how interest rates are impacting the car industry, the No. 1 issue for car shoppers right now, the best and worst car deals on the market, what a UAW strike could mean for the auto … Continued
As widely expected, the United Auto Workers (UAW) have officially called a strike against the domestic, Detroit-based auto brands (D3). The contract between the UAW and automakers expired Thursday night, and negotiations over a new, four-year contract broke down. The UAW is pushing for major improvements in a number of areas, including wages, cost-of-living adjustments, … Continued
It’s commonly believed that what goes up must eventually come down; you can only defy gravity for so long. The continued strength of the new vehicle market in 2023 is calling this widely held belief into question. At the beginning of the year, most economists and automotive forecasters believed there was a greater than 50% … 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 15, Cox Automotive Manager of Economic and Industry Insights Mirlene Jean-Simon is joined by Rebecca Rydzewski, research manager, … Continued
CBT News, Aug. 22, 2023 – Titling can be a complex and time-intensive part of the car purchase process. With strong sales volumes expected in the back half of the year and car buyers wanting to spend less time at the dealership, the time is now for managers to devise more efficient strategies. On this … Continued
New research from Cox Automotive suggests that consumers shopping for electric pickup trucks are not all that different from their ICE-considering counterparts. In a third round of research, Cox Automotive found that the Ford F-150 Lightning is on top for shopper consideration when compared to its EV counterparts from Chevy, GMC (Hummer), Ram, Rivian and … 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 14, Cox Automotive Manager of Economic and Industry Insights Mirlene Jean-Simon is joined by Rebecca Rydzewski, research manager, … Continued