Reuters, Sept. 28, 2020 – U.S. automakers are facing a problem most forecasters and industry executives did not expect when the pandemic slammed the economy this spring: Strong demand and lean inventories at dealerships. Automakers report September U.S. sales on Thursday, and forecasters expect the annualized sales pace will exceed the August rate of 15.2 … Continued
ATLANTA, Sept. 28, 2020 – Auto sales in the U.S. are forecast to continue their COVID-19 recovery in September as the new-vehicle sales pace should increase over last month. The seasonally adjusted annual rate (SAAR) is likely to reach 15.5 million, a modest improvement over August’s 15.2 million, and the fifth consecutive month of sales … Continued
Daily new COVID-19 cases stayed on an upward trend primarily due to increases in the Midwest and West. The overall economy appears to have hit a ceiling with the jobs recovering stalling and auto sales struggling. Housing remains the strongest part of the economy. The slowing jobs recovery combined with high and increasing initial jobless … Continued
With the supply of new vehicles falling every week, some favorite vehicles are in extremely short supply, but others have abundant – even overabundant – inventory that could represent good value and wide choice for consumers. In total, new-vehicle inventory slipped again last week, down to 56 days’ supply from 58 only two weeks ago, … Continued
The Cox Automotive Research & Market Intelligence team has published a new round of research on the evolving impact of COVID-19 on consumers and automobile dealers in the U.S. This ongoing research, which sheds light on consumer and dealer attitudes and behaviors during the pandemic, began in late March and is updated regularly. This 18th … 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
September has been a busy month for EV news, and we still have a week to go. Last week Ford was touting (again) a new electric version of their best-selling F-Series pickup trucks, which is scheduled for launch in 2022 and will be built in an updated facility near company headquarters in Michigan. We also … Continued
Join us for the Q3 Cox Automotive Sales Forecast Call hosted by Chief Economist Jonathan Smoke and Senior Economist Charlie Chesbrough on Monday, Sept. 28, 11 a.m. EDT. During this 90-minute webinar, you will hear from Jonathan, Charlie and other members of the team on how the auto industry performed in the third quarter and … Continued
Jeff Bezos is fond of declaring it’s still “Day 1” for Amazon. Staying in “Day 1” means you can do more for your customers — it requires you to experiment patiently, accept failures and double down when you see customer delight. Why is this relevant? In a July 13 editorial, “Subscriptions don’t pay off but … Continued
The number of daily new COVID-19 cases is increasing again, due to lax behavior over the Labor Day holiday weekend, much like we saw after Memorial Day. Momentum in several parts of the economy appears to be stalling. Retail sales barely rise: Retail sales barely increased in aggregate in August, and the gain was assisted … Continued
