Cox Automotive is forecasting August sales will beat July, marking a fourth consecutive month of rising sales. In a bit of good news, many new-vehicle dealers in mid-August were indicating sales and service levels approaching something close to normal. The story in August, as it has been all summer, was about low inventory levels holding back a more … Continued
Hyundai, Toyota, Mazda and others posted August U.S. auto sales in line with expectations today, and Subaru posted its best sales month of 2020, despite limited inventory. August sales results won’t be fully known for a few days, but early indications are that the results will land near the Cox Automotive forecast released last week. … 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 peak in daily new COVID-19 cases was six weeks ago, and now hospitalizations and deaths are in decline as well. The decline has helped consumer sentiment improve modestly. Home sales are strong with low mortgage rates and favorable demographics. The jobs recovery continues, but the pace of recovery is slow and slowing as each … Continued
ATLANTA, August 26, 2020 – As summer winds down in the last week of August, the auto industry’s slow recovery appears to remain on track, at least for another month. According to a forecast released today by Cox Automotive, the seasonally adjusted annual rate (SAAR) of auto sales in August is expected to finish near … Continued
The Cox Automotive Industry Insights team has published another round of research on the evolving impact of COVID-19 on consumers and automobile dealers in the U.S. The report was released today. This ongoing research, which sheds light on consumer and dealer attitudes and behaviors during the pandemic, began in late March and continues to be … 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
A Note from Cox Automotive CEO Sandy Schwartz Regarding COVID-19 Let’s just say this about COVID-19: We’re all in it together. Our job is to help make the automotive industry as good as it can be, and that has never been more apparent or more important than right now. Like so many others, Cox Automotive … Continued
The peak in daily new COVID-19 cases was five weeks ago, and now hospitalizations and deaths are declining as well. The jobs recovery continues, but the country still has 14.8 million on unemployment benefits. Consumer sentiment has also been slowly improving for the last three weeks. New construction and existing home sales are now up … Continued
The inventory of unsold used vehicles remains low but appears to be somewhat stabilizing in contrast to new-vehicle inventory that continues to fall, according to a Cox Automotive analysis of vAuto Available Inventory data. The total U.S. supply of unsold used vehicles stood at 2.16 million vehicles at the start of this week. That is … Continued
