ATLANTA, July 28, 2020 – The vehicle market is expected to show modest month-over-month improvement in July, but the growing number of COVID-19 cases and overall economic uncertainty continue to stifle a more robust recovery. According to a forecast released today by Cox Automotive, the seasonally adjusted annual rate (SAAR) of auto sales in July … 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
Cox Automotive is conducting ongoing research to understand the evolving impact of COVID-19 on U.S. consumers’ and dealers’ attitudes and behaviors. The COVID-19: Consumer and Automotive Dealer Impact Study addresses COVID-19 awareness, familiarity and level of concern, the impact on everyday behaviors and business operations, the impact on current auto shoppers and commuters as well … Continued
General Motors reports second-quarter 2020 financial results on Wednesday, July 29. Like most other automakers, GM is expected to post a loss due to the coronavirus pandemic that forced the shutdown of plants and significantly lowered sales. Here are data points from Cox Automotive on GM’s second-quarter market performance in the U.S., where the company … Continued
Welcome to Dealer Forward: Reimagining Automotive Retail, a panel discussion that focuses on building resilience in three key auto retail areas – marketing, dealership performance and fixed operations. This week’s episode features Lori Wittman, senior vice president of dealer software for Cox Automotive, and James Maynard, senior vice president of product development for Cox Automotive. … Continued
The growth in daily new COVID-19 cases in the U.S. is leveling off, but the rise in cases this summer and increased restrictions on activity as a result has diminished economic activity resulting in an increase in people filing for unemployment benefits. Jobless claims rise: Continuing unemployment declined in the latest data, but initial claims … Continued
Strong demand for used vehicles has caused retail used-vehicle inventories to slump to new lows, according to a Cox Automotive analysis of vAuto Available Inventory data. “Limited supply in both new and used vehicles is the next hurdle on the path to recovery for automakers and dealers,” said Cox Automotive Senior Economist Charles Chesbrough. The … 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 growing number of cases of COVID-19, which are setting new daily records, threaten the recovery that created growth in retail sales and new construction in June. Strong demand in the auto market has reduced supply of new and used vehicles, and that’s leading to record prices. However, the rise in cases is leading to … Continued
Given the current turbulence in the automotive marketplace, the Cox Automotive Economic & Industry Insights team is publishing its mid-month view of the wholesale market, including wholesale prices. The posted material provides commentary and an updated look at the Manheim Used Vehicle Value Index for July and general information on segment performance for the first … Continued
