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
Welcome to Dealer Forward: Reimagining Automotive Retail, a panel discussion that focuses on building resilience in three key auto retail areas – marketing, dealership performance and fixed operations. In this week’s episode, Vice President of Sales, Dealer Sales and Service Solutions Chase Abbott and Senior Director of Performance Management and Operations Mark Vickery sit down … Continued
In November, 132,145 total fleet units were sold, compared to 132,560 in October. Combined sales into large rental, commercial, and government buyers were down 29% year over year in November. Government units were up 3% year over year, on a small base, while rental units were down 42% year over year in November, an improvement … Continued
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 0.07% month over month in November. This brought the Manheim Used Vehicle Value Index to 162.0, a 16.6% increase from a year ago. The non-seasonally adjusted monthly change was -1.2%, which was more in line with what we have been seeing in weekly … Continued
Daily new COVID-19 cases have resumed an upward trend that hit a new record late last week. Hospitalizations are also at new records, leading to ICU capacity problems and state and local governments issuing new restrictions. The impact on the economy is evident in weakening consumer sentiment, slowing jobs recovery and softening vehicle sales. Consumer … Continued
Forbes, Dec. 2, 2020 – It just doesn’t get any easier for someone who needs a personal vehicle to buy one—especially a new one. Kelley Blue Book reports the average transaction price in November was $39,259, down slightly from October but the third highest in history. An unlikely alternative has emerged that’s a lot more affordable but … 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
The Cox Automotive team is analyzing November auto sales data this week, with initial results coming in roughly as forecast before the Thanksgiving holiday. With fewer selling days compared to November 2019 and last month, sales volume is expected to take a step back after improving for five straight months. Cox Automotive Senior Economist Charlie … Continued
November saw a record number of new COVID-19 cases and hospitalizations. Consumer confidence is declining, and consumer spending decelerated in October before we began to see weekly increases in initial claims for unemployment in November. The 13.7 million consumers who are receiving unemployment benefits from coverage provided by the Coronavirus Aid, Relief, and Economic Security … Continued
Global Atlanta, Nov. 25, 2020 – Only about 10 percent of Atlanta-based Cox Automotive’s $7 billion in revenues come from outside the U.S., a number the company hopes to grow as it continues to serve clients in more than 100 countries. But that hasn’t insulated it from the challenge of managing a workforce that has become … Continued
