We are past the effect of the severe winter weather a week ago. As a result, COVID-19 testing is growing again, and the new daily case trend is again on the rise. Still, it remains well below the case trend in January or early February. Consumers spend: Consumer spending increased in January as incomes jumped with … Continued
Our Chief Economist Jonathan Smoke joins us once again from his home studio in Atlanta, GA, with the latest on the impacts of COVID-19 on the automotive industry. The latest on COVID-19’s nationwide impact Continuing jobless claims and impacts by state Consumer sentiment in the U.S. and in the largest DMAs Cox Automotive consumer survey … Continued
ATLANTA, Feb. 23, 2021 – February sales when reported next week are expected to show a relatively strong vehicle market in the U.S., though slowing from January’s robust post-holidays pace. The seasonally adjusted annual rate (SAAR) of sales this month is forecast by Cox Automotive to be near 16.3 million, down from January’s 16.6 million … Continued
ATLANTA, Feb. 23, 2021 – Cox Automotive today released its 11th annual Car Buyer Journey Study. The extensive study is based on a survey of consumers who bought or leased a new or used vehicle and is designed to offer a detailed look at the vehicle buying process in America, from start to finish. While … Continued
The downward trend in new daily COVID-19 cases continues, but winter weather impacted economic activity and vehicle sales over the past two weeks though housing strengthened. Retail sales rise: Retail sales jumped in January, supported by the $600 stimulus checks issued early in the month in the $900 billion stimulus package signed into law at … Continued
Winter storms that have swept across a large swathe of the U.S., particularly hitting hard the big vehicle-buying state of Texas, should not badly damage vehicle sales this quarter. In Texas, winter storms caused massive power outages that closed dealerships as well as disrupted computer chip production in Austin and vehicle assembly for GM and … Continued
CBT News, Feb. 19, 2021 – Cox Automotive recently published the Kelley Blue Book Brand Watch Reports on the luxury and non-luxury segments. The study covers both luxury and non-luxury segments. Today on CBT News, Michelle Krebs and Vanessa Ton join the show to discuss findings from the report. Krebs is the executive analyst for … Continued
Used-vehicle inventory and prices slipped a bit in January as the sales pace for the month quickened, according to a Cox Automotive analysis of vAuto Available Inventory data. 2.66M Total Unsold Used Vehicles end of January 48 Days’ Supply $21,572 Average Listing Price 66,545 Average Miles The total U.S. supply of unsold used vehicles closed … Continued
Given the ongoing turbulence in the automotive marketplace, the Cox Automotive Economic & Industry Insights team is publishing its mid-month view of the wholesale market, including wholesale prices. The posted material provides commentary and an updated look at the Manheim Used Vehicle Value Index and general information on segment performance for the first 15 days … Continued
Our Chief Economist Jonathan Smoke joins us once again from his home studio in Atlanta, GA, with the latest on the impacts of COVID-19 on the automotive industry. The latest on COVID-19’s nationwide impact Continuing jobless claims and impacts by state Consumer sentiment in the U.S. and in the largest DMAs Cox Automotive consumer survey … Continued
