Sales of certified pre-owned (CPO) vehicles increased nearly 10% year over year in September but were down 6% month over month compared to August. For September, 224,536 CPO units were sold. The CPO market has been one of the strongest…
The automotive market has been incredibly resilient during this pandemic, but credit is likely to become more challenging in the months ahead, especially as Congress has failed to pass a much-needed additional stimulus package. The Coronavirus Aid, Relief, and Economic…
Automotive News, Oct. 14, 2020 – Unprecedented times brought on by the coronavirus pandemic called for unprecedented support. As the positive impacts of the stimulus fade, the automotive finance industry — among others — is calling for another round. The…
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…
If there’s one word to describe the U.S. automobile business, it might well be resilient. From a pretty awful Q2, when much of the industry was closed and sales volume had dropped by an alarming amount, auto sales came roaring…
Used Car Dealer Podcast, Oct. 12, 2020 – In episode #15, Zach Klempf has an in-depth interview with Senior Economist at Cox Automotive Charlie Chesbrough, and they discuss hot topics like: 1) What does an economist do and how does…
As the fall progresses, the trends for COVID-19 are worrisome. Daily new COVID-19 cases continue an upward trend. The case growth is accelerating and causing higher hospitalizations as well. The impact on the economy continues. Consumer sentiment has been bumpy,…
Auto Remarketing, Oct. 8, 2020 – There is likely to be 36.1 million used-vehicle sales this year, according to the latest forecast from Cox Automotive. But that projection, and the company’s forecast for new-car sales, could hinge on whether another…
A replay of the Q3 2020 Manheim Used Vehicle Value Index Call hosted by Cox Automotive Chief Economist Jonathan Smoke and Zo Rahim, manager of economic and industry insights for Cox Automotive, is available below. Jonathan and Zo were joined…
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 1.58% month over month in September. This brought the Manheim Used Vehicle Value Index to 161.2, a 15.2% increase from a year ago. Access the full report. For…
