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
August was the fourth straight month of slowing new-vehicle sales. The global chip shortage is the main culprit as the resulting dearth of inventory pushes prices to record highs. A second round of consumer research conducted by Kelley Blue Book finds that nearly half of car shoppers are exiting the market and delaying their purchase … Continued
CBT News, Sept. 22, 2021 – As demand continues to climb alongside inventory concerns, could you be doing more to get ahead of it all? Brian Finkelmeyer, senior director of new car solutions at Cox Automotive, joined Jim Fitzpatrick to discuss practices dealers can implement today and what they should be paying attention to. Finkelmeyer … Continued
Revised Oct. 21, 2021 – The average listing price for used vehicles set another record in August as vehicle inventory dipped, according to the Cox Automotive analysis of vAuto Available Inventory data. Though available supply fell, days’ supply held steady throughout August because sales slowed. 2.27M Total UnsoldUsed Vehiclesend of August 38 Days’ Supply $25,890 … Continued
