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April Fleet Sales Retreat After March Improvement, Remain Down 16% from Year-Ago Level

In April, 148,118 total fleet units were sold, a 19% month-over-month drop compared to 183,042 in March but a 106% increase from April 2020 which recorded 72,084 units. This brings the 2021 year-to-date total combined large rental, commercial, and government purchases of new vehicles to 662,784 units, a 16% decrease from this time in 2020 … Continued

13-Month Rolling Used-Vehicle SAAR

As another data point to monitor the health of the automotive market, according to Cox Automotive estimates, total used vehicle sales were up 69% year over year in April. We estimate the April used SAAR to be 41.0 million, up from 23.6 million last April and up compared to March’s 40.5 million rate. The used retail … Continued

Q1 2021 Kelley Blue Book Brand Watch Report: SUVs Hit Another Record; Subaru Models Ride the Wave

SUVs dominated again in the first quarter as Subaru Outback and Forester rode that wave, according to the Kelley Blue Book Brand Watch™ report for Q1 2021. Kia gained more than other brands, Ford lost a bit of steam, and Ram returned to a winning streak in terms of factors important to shoppers. The Kelley … Continued

Cox Automotive Analysis: Stellantis’ Q1 2021 U.S. Market Performance

Stellantis, now the world’s fourth-largest auto company by sales volume, will report its first-quarter 2021 financial results Wednesday, May 5. It will be the first quarterly financial results from the company formed officially early in the quarter by the merger of Fiat Chrysler and PSA (Peugeot) Group. In the U.S., the company improved its sales … Continued

It’s the Best Time Ever to Sell a Used Car — as Long as You Don’t Need to Buy One

Los Angeles Times, May 4, 2021 – Clarissa Iliff logged about 78,000 miles on her trusty 2015 Ford Focus before a looming new car purchase rendered it expendable earlier this year.  Trying to unload it, the Orange resident took the Ford to a local car dealership, which offered her $4,850 for the sedan in late … Continued

Cox Automotive Analysis: GM’s Q1 2021 U.S. Market Performance

General Motors posts first-quarter 2021 financial results on Wednesday, May 5. Analysts expect strong earnings on higher revenues. They will look for GM’s take on the global computer chip shortage and its anticipated effect on GM’s sales and operations. GM did not return to pre-pandemic sales levels across the board as it was hampered by … Continued

Cox Automotive Auto Market Report: May 4

After a year’s worth of videos tracking the COVID-19 pandemic’s impact on the auto market, we are launching a biweekly Auto Market Report video series focusing on data and insights that provide a holistic view of the auto industry. Chief Economist Jonathan Smoke will continue to lead our effort to translate data and trends into … Continued

Low Inventory and High Prices Can’t Slow U.S. Auto Sales

Light vehicle sales continue on a hot streak, with April sales coming in ahead of the Cox Automotive forecast. Initial estimates are putting the seasonally adjusted average rate (SAAR) of sales well above 18 million. When the counting is finished, April 2021 might well be among the strongest months ever for U.S. auto sales. Indications … Continued

Rental Companies Buy Up Used Cars as Microchip Crisis Gets Worse

Bloomberg, May 3, 2021 – The semiconductor shortage has slashed vehicle production so much that rental-car companies can’t get the new cars they need, so they have resorted to buying used vehicles at auction. This is uncharted territory for the likes of Hretz Global Holdings Inc. and Enterprise Holdings Inc., which have made their profits … Continued

Auto Market Weekly Summary

The declining trend in new daily COVID-19 cases accelerated this week, but the vaccination pace also slowed. Consumer sentiment improved, and all measures of consumer confidence saw strong gains in April. Economic activity is continuing to pick up. First-quarter GDP growth accelerated, and spending grew strongly in March to end the quarter, supported by stimulus … Continued