Electric vehicle startup Nikola Corp. and General Motors Co. announced that they are forming a strategic partnership that begins with the Nikola Badger and carries cost reductions through the range of Nikola vehicles. As part of the agreement, Nikola will use General Motors’ Ultium battery system and Hydrotec fuel cell technology. Cox Automotive analysts weigh … Continued
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 3.64% month over month in August. This brought the Manheim Used Vehicle Value Index to 163.7, a 15.8% increase from a year ago and another record high for the Index. Access the full report. For 25 years, the MUVVI has been 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, Sept. 8, 2020 – According to the Q3 2020 Cox Automotive Dealer Sentiment Index (CADSI) released today, U.S. automobile dealers’ view of the current automotive market shows significant improvement and has mostly recovered from the historic, pandemic-driven drops in the second quarter. The overall current market index moved into positive territory in Q3 with … Continued
The peak in daily new COVID-19 cases was seven weeks ago. Hospitalizations and deaths have been declining as well. However, outbreaks on college campuses caused daily cases to stop declining last week. The jobs recovery continues, but the pace of recovery is slowing as each week we lose jobs as well as see recovered jobs. … Continued
CBT News, Sept. 7, 2020 – Inventory is scarce right now, that’s no secret, and the used car market has been hit especially hard. This has left many dealers wondering how and when their pre-COVID inventory levels will return. Watch this episode to learn about the current state of inventory supply and the impact it … Continued
General Motors and Honda have signed a memo of understanding to form a North American automotive alliance that could include sharing vehicle platforms and propulsion systems, including both electrified and gas ones, for a range of models sold by both brands. The two companies may also work together in purchasing, research and development and connected … Continued
The month-over-month improvement in fleet sales reversed in August with only 101,159 of total fleet volume, down from 104,769 in July and 206,652 in August 2019. Combined rental, commercial and government purchases of new vehicles were down 51% year over year in August. Government units were up 13.5% year over year, on a small base, … Continued
General Motors and Honda announced they have signed a non-binding memorandum of understanding to establish a North American automotive alliance. The scope of the proposed alliance includes a range of vehicles to be sold under each company’s distinct brands, as well as cooperation in purchasing, research and development, and connected services. As this news dominates … Continued
The Jeep brand is showing off new product today, a family of flagship new Wagoneer models and a hybrid-electric version of its stalwart Wrangler. On top of that, Jeep is expected to launch an all-new version of the popular Grand Cherokee model during calendar year 2021. As the Jeep brand shares today’s headlines with the General Motors and … Continued
