The declining trend in new daily COVID-19 cases continued last week, but consumer confidence still saw declines. Consumer spending growth accelerated in August even as income growth slowed. Inflation in August, according to the Fed’s preferred measure, was at the highest level in 30 years. The new-vehicle market lost more momentum in September. Pending home … Continued
At the Cox Automotive Q3 U.S. Auto Sales Forecast call held on September 30, Cox Automotive Chief Economist Jonathan Smoke, Senior Economist Charlie Chesbrough and Economic and Industry Insights Manager Kayla Reynolds explained the factors that drove the auto industry in the third quarter. Additionally, Lea Malloy, head of EV Battery Solutions at Cox Automotive Mobility, … Continued
The Cox Automotive Q3 U.S. Auto Sales Forecast call will be held today at 10 a.m. EDT. The presentation is now available for download. Cox Automotive Chief Economist Jonathan Smoke, Senior Economist Charlie Chesbrough and Economic and Industry Insights Manager Kayla Reynolds will explain the factors that drove the auto industry in the third quarter. Additionally, Lea Malloy, … Continued
With new-vehicle inventory tight throughout the quarter, incentive program volume was down year over year in Q3 and down from the 5-year average. Incentive spend as a percent of average transaction price is also down, according to recent data from Kelley Blue Book. Incentive program volumes, as measured by the Cox Automotive Rates & Incentive team, … Continued
ATLANTA (Sept. 29, 2021) – Vehicle ownership (buy/lease) is more important than ever, according to the Cox Automotive 2021 Evolution of Mobility Study. This is a dramatic shift from Cox Automotive’s research in 2018, which signaled that consumer acceptance of alternative shared mobility solutions would begin to supplement traditional vehicle ownership if costs and accessibility … 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 trend in new daily COVID-19 cases declined last week. Consumer sentiment has been up and down and has lost some ground so far in September. New jobless claims increased again last week. New construction trends are improving as multifamily activity expands. Existing home sales declined in August while new home sales improved. Supply remains … Continued
UPDATED, Oct. 4, 2021 – The Cox Automotive Industry Insights team was expecting U.S. auto sales to cool in the third quarter, following a strong second quarter that greatly reduced inventory. That outlook proved correct, with vehicle inventory falling even further than initially expected and new-vehicle sales in September finishing very near our forecasted volume … Continued
Auto Remarketing Podcast, Sept. 23, 2021 – In this special sponsored episode of the podcast, Joe Overby is joined by Lea Malloy, who is head of EV battery solutions at Cox Automotive Mobility, to discuss the first-ever Cox Automotive Fall Expo. The event, which will be held online Sept. 27-30, includes the Executive Thought Leadership … Continued
U.S. monetary policy was unchanged today as the Fed issued their official statement following their sixth meeting of 2021. The most important information coming out of this meeting was direction on future policy, namely when tapering might begin and if the schedule for possible rate liftoff is accelerating. Tapering we learned is likely coming soon, … Continued
