ATLANTA (July 21, 2022) – Cox Automotive today announced the acquisition of Trudell, expanding its offering within the medium and heavy-duty fleet parts and service, as well as adding direct parts sales and semi-trailer sales to the Cox Automotive Mobility Fleet Services portfolio. The acquisition represents an entry into a new adjacency for Cox Automotive Mobility Fleet … Continued
South Korean automaker Hyundai Motor, which includes the Hyundai, Kia and Genesis brands, is expected to deliver record profits when it reports quarterly earnings on Thursday, July 21. Analysts predict the automaker will earn a record $1.7 billion in operating profit as a richer product mix, reduced incentive spending and weakening Korean won are expected … Continued
Both service activity and service revenue decreased at U.S. franchised dealerships in June, according to the latest Cox Automotive analysis of Xtime metrics. The Repair Order Revenue Index decreased month over month in June after 11 months of increases and remains up year over year. Meanwhile, the Repair Order Volume Index decreased both month over … Continued
The video below is part of a biweekly Auto Market Report series focusing on data and insights that provide a holistic view of the auto industry. Chief Economist Jonathan Smoke leads our effort to translate data and trends into actionable insights. Download this week’s presentation.
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 0.7% from June in the first 15 days of July. The Manheim Used Vehicle Value Index rose to 221.5, which was up 13.4% from July 2021. The non-adjusted price change in the first half of July was a decrease of 2.2% compared to … Continued
New-vehicle sales in Q2 were off by more than 20%, as tight inventory continues to hold back the market. High prices are certainly impacting some buyers, but the Industry Insights team at Cox Automotive continues to believe new-vehicle demand is relatively healthy and, with sufficient supply, sales volumes could be higher. At the end of … Continued
Inflation accelerated in June, according to the Consumer Price Index (CPI). The year-over-year inflation rate hit 9.1%, the highest since November 1981. Key categories that consume a sizable portion of consumer budgets, such as food, rent and gasoline, saw significant gains. Vehicle prices also added to June’s inflation reading, although Cox Automotive data covering used … 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 3, Cox Automotive Research Manager Rebecca Rydzewski is joined by Senior Economist Charlie Chesbrough, Chris Frey, senior manager … Continued
New-vehicle affordability declined again in June with increases in rates and prices reaching a new record, according to the Cox Automotive/Moody’s Analytics Vehicle Affordability Index. The number of median weeks of income needed to purchase the average new vehicle in June increased to 42.2 weeks from an upwardly revised 41.5 weeks in May. Supporting affordability, … Continued
ATLANTA (July 14, 2022) – As Cox Automotive continues its mission to help clients transform our industry, Lori Wittman, President of Cox Automotive Retail Solutions, has made several key changes to her leadership team. Mandi Fang becomes the new Senior Vice President of Client Operations and Tracy Noonan Fred becomes the new Senior Vice President of … Continued
