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…
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…
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…
The average new-vehicle transaction price (ATP) in May 2021 increased 5.4% year over year and reached $41,263, according to an analysis by our Kelley Blue Book team. The ATP in May 2021 was an all-time record for the month and…
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 0.29% in the first 15 days of June compared to the month of May. This brought the mid-month Manheim Used Vehicle Value Index to 203.6, a 36.4%…
U.S. monetary policy was unchanged today as the Fed issued their official statement following their fourth meeting of 2021. Minimal changes were made in the official statement compared to the prior statement. While acknowledging progress on vaccinations has reduced the…
ATLANTA, June 15, 2021 – Cox Automotive today releases a new study — How to Thrive: Best Practices for an Accelerated Digital Landscape — examining effective strategies dealerships are adopting to find profits and thrive in today’s marketplace. With the…
With extremely strong vehicle demand this spring resulting in ever-tightening supply, new-vehicle affordability would have had challenges with higher prices and lower incentives. Adding in the effect of waning stimulus support, affordability declined again in May and reached challenging levels…
ATLANTA, June 14, 2021 – Cox Automotive announced today that Michele Parks has joined the company as chief people officer, leading a team responsible for recruiting, developing and managing talent for more than 25 brands. Parks, in her new role, will report to Steve Rowley,…
ATLANTA, June 14, 2021 – Dealer sentiment in the second quarter of 2021 saw substantial growth year over year and compared to Q2 2019 with the overall current market index increasing to 67, well above the positive threshold of 50 in the…
