ATLANTA, June 28, 2021 – June U.S. new-vehicle sales are expected to showcase a market still well above last year’s levels but one that is slowing after a frenzied spring buying season. Vehicle sales in June are forecast by Cox Automotive to fall to a seasonally adjusted annual rate (SAAR) of 16.4 million, up from … Continued
The trend in new daily COVID-19 cases stopped declining with cases increasing slightly last week. Consumer sentiment improved slightly, but measures of consumer sentiment show mixed trends in June. Consumer spending was unchanged in May as incomes slid with less government support. Inflation in May was at the highest level in more than a decade. … Continued
Auto Remarketing Podcast, June 25, 2021 – Nick Zulovich, senior editor, Auto Fin Journal, SubPrime Auto Finance News and BHPH Report, went straight to the orchestrator of the 2021 Cox Automotive Dealership Staffing Study for this episode of the Auto Remarketing Podcast. Cox Automotive senior industry intelligence manager Angela Drake shared additional insight about the … Continued
CBT News, June 24, 2021 – Recently, Cox Automotive published its quarterly Cox Automotive Dealer Sentiment Index for Q2. The index measures dealer sales expectations and how they perceive current auto retail trends over the next 90 days. Jonathan Smoke, Chief Economist for Cox Automotive joined Jim Fitzpatrick on CBT News to discuss the findings of this latest … Continued
The headline for June is hard to miss: Used-Vehicle List Prices Hit an All-Time High. The record, however, was mostly expected, as used-vehicle values at the wholesale level were climbing relentlessly through the spring and, ultimately, drove higher retail prices. The price jump this spring was created by a number of factors, including government stimulus putting more … Continued
CBT News, June 23, 2021 – Cox Automotive President Steve Rowley discusses his background, the first nine months at Cox Automotive and his perspective on the future of auto retail with Jim Fitzpatrick at CBT News. Rowley wraps up the conversation by discussing the concerns car dealers are experiencing within the industry. He doesn’t believe they … Continued
Used-vehicle inventory levels moderated through May as the spring sales bounce subsided, according to a Cox Automotive analysis of vAuto Available Inventory data. However, used-vehicle prices did not follow suit and instead set new record highs for the start of June. 2.38M Total UnsoldUsed Vehiclesend of May 38 Days’ Supply $24,414 Average Listing Price 67,458 … 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 Mid-Year Review, hosted by Jonathan Smoke and the Industry … Continued
ATLANTA, June 21, 2021 – The U.S. economy is showing signs of returning to pre-pandemic levels, and the auto business is booming. Like many industries, U.S. automotive retail is struggling to find enough employees for dealerships to be fully staffed, much less meet their 2021 growth goals. In the 2021 Cox Automotive Dealership Staffing Study published … Continued
New daily COVID-19 cases continued to decline last week, but new jobless claims increased from the prior week. The change in trend could just be noise following impact of Memorial Day holiday period leading to lower claims and the following full week showing some bounce back. Initial claims are expected to continue to decline. Jobless … Continued
