The global pandemic has played havoc on the U.S. economy and the automotive market, with a forecast of 14.3 million new-vehicle units to be sold in the U.S. this year, down roughly 3 million units from 2019. Despite lower sales across the board, certain brands fared better than others. As we wind down this rough … Continued
Auto Remarketing/SubPrime Auto Finance News, Dec. 14, 2020 – Cox Automotive recently launched a new industry measurement called the Dealertrack Credit Availability Index that’s geared to track how the auto-finance market is trending. For the first installment, analysts discovered credit availability continued to improve in November for all types of financing. Cox Automotive indicated the … Continued
Derived from a quarterly survey that Cox Automotive issues to a representative sample of franchised and independent auto dealers from around the country, the Cox Automotive Dealer Sentiment Index (CADSI) measures dealer perceptions of current retail auto sales and sales expectations for the next three months as “strong,” “average” or “weak.” The survey also asks … Continued
ATLANTA, Dec. 14, 2020 – U.S. automobile dealer sentiment dropped in Q4 returning to its pre-pandemic levels, according to the latest Cox Automotive Dealer Sentiment Index (CADSI). The overall current market index dropped below 50 into negative territory with a score of 49, a statistically significant 7-point decrease from last quarter’s 56. Year over year, … Continued
This week was the worst week yet for the pandemic in the U.S. with record cases, hospitalizations and deaths. Record cases and new restrictions are causing an uptick in the jobless numbers. Job losses soar: Rising COVID-19 cases this fall are leading to further job losses. Traditional continuing claims increased by 230,000 Americans to 5.8 … Continued
Automotive News, Dec. 14, 2020 – Political confusion and a worsening pandemic clouded dealer sentiment gauged by Cox Automotive’s quarterly Dealer Sentiment Index survey. Dealers reported slightly lower optimism on Cox’s fourth-quarter poll, conducted Nov. 4 to 15 as coronavirus cases surged and the outcome of the presidential election hung in the balance. Cox Automotive … Continued
Automotive News/Fixed Ops Journal, Dec. 2020 – Ed Roberts, fixed ops director at Bozard Ford-Lincoln in St. Augustine, Fla., has been thinking a lot lately about how Ford’s first three battery-electric vehicles — the Mustang Mach-E arriving this month, the E-Transit van coming late next year and the battery-powered F-150 planned for 2022 — will … Continued
Auto Remarketing, Dec. 10, 2020 – Certified pre-owned sales took major tumbles on both year-over-year and month-over-month bases in November, but that shouldn’t cause alarm about the overall strength in CPO, according to Cox Automotive. The 21% decline from November 2019 admittedly could be seen as “a big shock to the market,” but that slowdown … Continued
Sales of certified pre-owned (CPO) vehicles declined 21% year over year in November with 3 less selling days and were down 20% month over month compared to October, reflecting a normalizing market coming off of a resilient performance in the summer and fall months. For November, 186,861 CPO units were sold. The CPO market has … Continued
With factories back to nearly full production and sales slowing, new-vehicle inventory climbed during November though it remains below normal, according to a Cox Automotive analysis of vAuto Available Inventory data. List prices also rose. 2.87M Total Inventory 75 Days’ Supply $39,953 Average List Price The total U.S. supply of available unsold new vehicles stood … Continued
