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In Q2, Ford Was Living The Toyota Life And Loving It.

In this summer of low incentives, consumers are facing record-high vehicle prices. Inventories are low and many vehicles are being sold at or above the manufacturer’s suggested retail price (MSRP). While interest rates remain favorable and help the bottom line of most deals, incentive spending has dropped off notably in 2021, putting pressure on vehicle … Continued

The Fed Not Yet Ready to Taper

U.S. monetary policy was unchanged today as the Fed issued their official statement following their fifth meeting of 2021. Minimal changes were made in the official statement compared to the prior statement. They acknowledged progress towards the conditions necessary to eventually move away from easy monetary conditions but said they will continue to assess progress … Continued

Cox Automotive Forecast: Tight Supply Puts Brakes on New-Vehicle Sales

ATLANTA, July 27, 2021 – July U.S. auto sales are expected to reveal a new-vehicle market that has a large problem – too few products to sell. The sales pace, which had been averaging nearly 17.0 million a month through May, is expected to show another decline as falling inventories are halting sales activity around … Continued

Cox Automotive Analysis: Ford’s Q2 2021 U.S. Market Performance

Ford Motor Co. reports second-quarter 2021 earnings Wednesday, July 28, after the stock market closes. The global computer chip shortage has severely hampered Ford’s vehicle supply. Ford has cut production and built vehicles and parked them until chips are available. On the plus side, high consumer demand and low inventories have allowed Ford to drastically … Continued

Cox Automotive Analysis: Nissan Quarterly U.S. Market Performance

Nissan Motor Co. in Japan reports its financial results for the April-to-June quarter Wednesday, July 28. The quarter is Nissan’s first in its fiscal year that ends March 31, 2022. Nissan has been forced to cut production in Japan and the U.S. due to the global computer chip shortage, but, in the U.S., it has … Continued

Cox Automotive and Penske Jointly Develop Automated Vehicle Retailing Platform for Online Car Buying

CBT News, July 26, 2021 – Penske Automotive Group and Cox Automotive have debuted an industry-first automated digital retailing platform for vehicle sales. Joining CBT News today to discuss this development is Marianne Johnson, Chief Product Officer at Cox Automotive, alongside Mike Barrington, who is the Senior Vice President and Business Leader of Digital Commerce … Continued

Auto Market Weekly Summary

The trend in new daily COVID-19 cases continued increasing last week. Consumer sentiment declined again and is having its worst month since November. Wholesale used vehicle values continue to decline from their peak in early June. Retail prices are likely to reach their peak this month. New construction trends in June were mixed, but declining … Continued

Electrified Vehicle Sales Accelerate Significantly in Q2 2021, According to Kelley Blue Book Report

IRVINE, Calif., July 26, 2021 – While the U.S. automotive market has experienced growth this year in nearly every vehicle segment, Kelley Blue Book today reports no segment is growing more quickly and relentlessly than electrified vehicles – defined as the combined total of electric vehicles (EVs), hybrids and plug-in hybrids. New-vehicle demand is up across … Continued

Used-Vehicle Average Listing Price Sets Record; Jumps Above $25,000

Used-vehicle prices set another record at the end of June, according to a Cox Automotive analysis of vAuto Available Inventory data. 2.45M Total UnsoldUsed Vehiclesend of May 41 Days’ Supply $25,101 Average Listing Price 68,613 Average Mileage The average listing price for used vehicles surpassed the $25,000 mark for the first time – $25,101 to … Continued

Penske Automotive Group and Cox Automotive Debut Automated Platform for Retailing Used Vehicles

BLOOMFIELD HILLS, MI and ATLANTA, GA (July 22, 2021) – Penske Automotive Group, Inc., (NYSE:PAG) and Cox Automotive, Inc. (“CAI”), announced today they have jointly developed a transformational, fully automated technology platform to enable the online retail sale of used vehicles. The automated online buying platform, which is owned exclusively by Cox Automotive, allows consumers … Continued