Cox Automotive Executive Analyst Michelle Krebs on Jim Farley succeeding Jim Hackett as Ford Motor Co. CEO, effective Oct. 1, 2020: “How appropriate that Jim Farley was elevated to CEO of Ford Motor Co. 10 years, almost to the day, that he joined the automaker from Toyota. His first, or one of his first public … Continued
Automotive News, Aug. 4, 2020 – Toyota Motor Corp., American Honda and Kia in July posted their smallest U.S. sales declines since the coronavirus outbreak took hold and four brands chalked up increases, signaling the market continues to recover from the pandemic. Volume fell 19 percent at Toyota Motor, 11 percent at America Honda and … Continued
Almost immediately after COVID-19 was declared a global pandemic, automakers pulled out their playbook from the Great Recession and quickly put in place aggressive incentives like zero-percent financing for 84 months to buoy sales. Now, as vehicle sales are recovering and production can’t keep up with demand, automakers and dealers are dialing back the spiffs. … Continued
New vehicles in the range of $30,000 to $40,000 are in the shortest supply while those priced below $30,000 have the highest inventory, according to a Cox Automotive analysis of list prices based on vAuto Available Inventory data. The days’ supply of unsold new vehicles in that mid-price category was down to 55 last week. … Continued
Daily new COVID-19 cases in the U.S. are declining again, but the impact of higher risk and more restrictions on activity across much of the country has diminished economic activity resulting in an increase in people filing for unemployment benefits. One clear bright spot is the housing market, which is recovering strongly as demand is … Continued
Fiat Chrysler Automobiles (FCA) reports second-quarter 2020 financial results Friday, July 31, and analysts are forecasting a loss likely larger than the $1.83 billion posted in the first quarter of this year. Here are key data points from Cox Automotive on FCA’s second-quarter performance in the U.S. market where the company derives the bulk of … Continued
Cox Automotive Executive Vice President and vAuto Founder Dale Pollak and Chief Economist Jonathan Smoke, along with special guests discuss on the latest market insights and essential steps your dealership needs to take now to prepare for the headwinds likely ahead.
Cox Enterprises has named Steve Rowley as the new president of Cox Automotive, effective Aug. 3. Cox Automotive includes powerhouse brands Autotrader®, Kelley Blue Book®, Dealertrack®, vAuto® and Manheim®. He takes over for President and CEO Sandy Schwartz, who moves to a role as CEO of the Cox Family Office. Keith Holmes, senior vice president … Continued
As they did in June, the Fed today affirmed rate policy will remain where it is “…until it is confident that the economy has weathered recent events and is on track to achieve its maximum employment and price stability goals.” It is important to note that the Fed believes that the economy cannot recover until … Continued
Ford Motor Co. reports second-quarter 2020 earnings Thursday, July 30, after the stock market closes. The results will be dismal, as Ford has already hinted very publicly that its operating loss will drop deep into the red, perhaps one of the worst quarters in the company’s 100-plus year history due to plant shutdowns caused by … Continued
