UPDATED, Aug. 3, 2022 – The Cox Automotive Industry Insights team was forecasting new-vehicle sales in July to trend closely to the results seen in June, as new-vehicle inventory levels are holding steady at approximately 1.1 million units, a days’ supply in the mid-30s. As noted in the forecast release below, “Auto sales are expected … Continued
Is your F&I office capable of supporting automated eCommerce? Consumers Want It, Technology Enables It Consumers have grown accustomed to the transparency, speed, and convenience of buying online. Research shows that 76% of today’s car buyers are open to purchasing completely online1, and 1 in 4 consumers say they prefer an Amazon-like car shopping experience … Continued
Ford outperformed the U.S. market in sales for the second quarter. How that translates into quarterly earnings will be revealed with the automaker posts financial results after the stock market closes on Wednesday, July 27. Ford’s U.S. vehicle sales surged in June to close the quarter on a positive note when the industry was down, … Continued
General Motors is expected to report a year-over-year decline in earnings, despite higher revenues, when it reports financial results for the second quarter on Tuesday, July 26, before the stock market opens. But then again, GM has beaten analysts’ forecasts for the past four quarters. Indeed, the quarter was challenging as GM continued to battle … Continued
CBT News, July 25, 2022 – As the automotive retail industry settles into the third quarter, analysts are reviewing mid-year sales data and updating their forecasts for the remainder of 2022. Today on Inside Automotive, Jim Fitzpatrick is pleased to welcome back Charlie Chesbrough, Senior Economist and Senior Director of Industry Insights at Cox Automotive to … Continued
The job market is starting to show signs of cooling as new initial claims have risen for seven straight weeks and are now at a level higher than they were before the pandemic began. However, continuing claims continue to remain below pre-pandemic levels. The housing market has suffered the most from the dramatic increase in … Continued
Earlier this month, during our quarterly Manheim Used Vehicle Value Index (MUVVI) conference call, there were a significant number of questions related to the health of the U.S. economy, inflation, and the impact used-vehicle prices are having on inflation. These are all important topics that are worth addressing. First, as I noted during the call, … Continued
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
