ATLANTA, Dec. 22, 2020 – Boosted by year-end sales and extra selling days, light vehicle sales in the U.S. for December are expected to finish near 1.54 million, a 1.9% increase over last December. The gain is a bit misleading, however, as there are 28 shopping days this month, three more than last year and … Continued
Forbes, Dec. 22, 2020 – The deadly coronavirus pandemic continues to cast a shadow on the U.S. economy and auto sales, probably through at least the first half of 2021, until vaccines become more widely available, according to a forecast from Cox Automotive. “We are starting to think things look a little bit tougher for … Continued
Last week, we saw continued growth in COVID-19 cases but at a slowing pace. Record cases and new restrictions are causing a continued uptick in new jobless claims. Consumer sentiment improved modestly last week, building upon improvement that came as vaccine news seems to be helping lift consumer spirits. Retail sales declined in November with … Continued
What can the industry expect through the end of the year? Brian Finkelmeyer, senior director of new car solutions at Cox Automotive, joins Jim Fitzpatrick on CBT News to answer that question. Finkelmeyer recently published an article in the Cox Automotive Newsroom titled Everything About 2020 Is Different, Including Year-End Deals, where he explores how December … Continued
Given the current 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 for December and general information on segment performance for the first … Continued
Used-vehicle inventory has held steady in recent weeks, while the average used-vehicle list price keeps climbing, according to a Cox Automotive analysis of vAuto Available Inventory data. 2.61M Total Unsold Used Vehicles as of Dec. 1 51 Days’ Supply $21,724 Average Listing Price 66,284 Average Miles The total U.S. supply of unsold used vehicles opened … Continued
Little new information emerged from the Fed today as they issued their official statement following their December and final meeting of the year. In fact, the only change in the official statement was more specific details about their program of buying Treasury bonds and mortgage-backed securities. There was no change in their language describing the … Continued
Vehicle affordability improved 1.42% month over month in November according to the Cox Automotive/Moody’s Analytics Vehicle Affordability Index (VAI). November was the first month-over-month improvement in vehicle affordability since May 2020, when the index reached 30.80, the lowest point in the past eight years. Year over year, November’s VAI of 32.55 is just slightly lower … Continued
If there’s a single trend we’ve consistently seen in 2020, it’s the relentless upward track of new- and used-vehicle prices. Vehicle affordability can be measured in many ways, and the Cox Automotive Industry Insights team is working with Moody’s Analytics to provide a true affordability measure based on a wide collection of data sets, including … 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
