ATLANTA, March 9, 2022 – Facing a slow start to the year, and with concerns over inflation and the economy, automobile dealer sentiment softened in Q1, marking the third consecutive quarter-over-quarter decline in current market sentiment. Still, at 57, the current market index remains above the positive threshold in the latest Cox Automotive Dealer Sentiment … Continued
Sales into large fleets increased 27% month over month in February to 124,507 units, the highest volume in the past seven months, but remained down year over year. Rental fleet sales volume remains extremely low while commercial and government both saw modest year-over-year gains last month. FEBRUARY 2022 FLEET SALES Combined sales into large rental, … Continued
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) declined 2.1% in February from January. The Manheim Used Vehicle Value Index declined to 231.3, which was a 36.7% increase from a year ago. The non-adjusted price change in February was a decline of 2.2% compared to January, leaving the unadjusted average price up … Continued
ATLANTA, March 7, 2022 – Manheim and Fyusion have been working together for years, starting with Manheim Express in 2018, but it wasn’t until Cox Automotive acquired the computer vision leader a little over a year ago that the partnership accelerated. Now, Manheim is deploying Fyusion-powered mobile imaging at all of its locations, giving clients … Continued
The February employment report was stronger than expected as job creation accelerated to 678,000 jobs compared to 481,000 created in January, and prior months were revised up. Labor force participation grew to the highest level for the pandemic, and the unemployment rate fell to the lowest level for the pandemic. Jobless claims are falling, and … Continued
ATLANTA, March 4, 2022 – Cox Automotive, the world’s largest provider of automotive services and solutions, is showcasing a wide collection of products and services at the annual National Automobile Dealers Association (NADA) gathering this month in Las Vegas. At the NADA Show, Cox Automotive will feature its unmatched portfolio across 26,300 square feet of … Continued
ATLANTA, March 4, 2022 – Cox Automotive today named Lori Wittman as the new president of the company’s Retail Solutions group and Amy Mills as Executive Vice President and Chief Strategy Officer. Both will report directly to Steve Rowley, president, Cox Automotive. The promotions signal the automotive tech and service giant’s commitment to transforming the industry by creating … Continued
ATLANTA – March 3, 2022 – Cox Automotive today announced the introduction of Cox Automotive Mobility Fleet Services, representing an evolution of its high-quality, full-service fleet solutions across scheduled and unscheduled maintenance, previously delivered in conjunction with industry leaders Dickinson Fleet Services and Interstate Truck Center. By operating under one unified brand, Cox Automotive Mobility … 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.
The new used-car online retailers like Carvana, Vroom and Shift reported explosive revenue growth in the last quarter and for the full year of 2021. That comes as no surprise in that these so-called New Form Online Retailers (NFORs) also have experienced a steady and substantial rise in the number of shoppers visiting their websites. … Continued
