The gap between same-store unit sales of new- and used-vehicles shrank in Q3, according to the largest players in the auto industry: franchised dealer groups. Compared to Q2, large dealer group new-vehicle sales improved by 13% while used-vehicle sales improved by 6% in the third quarter. Large dealer groups account for roughly 7% of new-vehicle … Continued
ATLANTA, Nov. 10, 2020 – Janet Barnard, chief people officer, for Cox Automotive, and Grace Huang, president at Manheim, a Cox Automotive company, have been named among the 100 Leading Women in the North American Auto Industry by Automotive News. Barnard, Huang and their co-honorees are featured in a special section of the Nov. 9 … Continued
Last month, and following the established projections at the time, I posted initial thoughts on how a Biden administration, supported by a blue wave of Democratic support in both the Senate and the House, would influence the auto industry and economy in the coming years. The projected blue wave never arrived and, instead, appears to … Continued
Daily new COVID-19 cases continue an upward trend that is producing records. We saw more than 121,000 last Thursday and at this pace could see 200,000 by Thanksgiving. Hospitalizations are also at new records. The job recovery continues, but the pace is slowing. More of the remaining 10.1 million jobs lost in the pandemic are … Continued
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 0.47% month over month in October. This brought the Manheim Used Vehicle Value Index to 161.9, a 15.4% increase from a year ago. The non-seasonally adjusted (NSA) monthly change was -1.9%, which was more in line with what we have been seeing … Continued
Not much was expected from today’s Federal Reserve announcement given the yet settled outcome from the election. The key items of interest were about expectations for the economy, any new guidance on rates long term, and any new insights into their bond buying plans. Nothing new emerged from their official statement. The most significant change, … Continued
Honda Motor Co. of Japan reports financial results for Q2 FY 2021, the July-to-September quarter, on Friday, Nov. 6, marking the midway point for its fiscal year that ends March 31, 2021. Honda swung to a loss in the previous quarter but should show signs of recovery in the just-closed quarter. Here are some data … Continued
Month-over-month improvement continued in October with 132,560 total fleet volume sales up from 124,930 in September. Combined rental, commercial and government purchases of new vehicles were down 27%, or 49,649 units, year over year in October. Government units were up 8% year over year, on a small base, while rental units were down 43% year … Continued
Toyota Motor reports financial results for the July-to-September quarter (Q2 FY 2021) on Friday, Nov. 6, marking the midway point for its fiscal year that ends March 31, 2021. After the last two profitable quarters, though soft ones, Toyota will likely show improvement. Briefing media and analysts recently, Toyota executives in the U.S. said they … Continued
General Motors reports third-quarter 2020 financial results Thursday, Nov. 5. If the better than expected results of Ford and Fiat Chrysler are any indication, GM should have a good quarter – on the strength of trucks and SUVs. Analysts predict GM’s revenues will be up. Here are key data points from Cox Automotive on GM’s … Continued
