U.S. inventories of new pickup trucks – large and small – are extremely low, with Toyota having barely any supply of the popular Tacoma and Tundra, according to a Cox Automotive analysis of vAuto Available Inventory data. Full-size pickups trucks had only a 69 days’ supply as of July 6, according to Cox Automotive data. … Continued
Sales of certified pre-owned (CPO) vehicles increased 9% year over year in June and were up 10% month over month compared to May. For June, 261,586 CPO units were sold. CPO sales were on a record-setting pace the first two months of the year before COVID-19 put the brakes on auto sales. Reflecting huge decreases … 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
Automotive News, July 13, 2020 – Even with fleet sales still blunted by the lingering effects of COVID-19 on daily rental-car companies and most production in North America recovering, auto industry inventories continued to tighten in June, especially in light trucks and among certain automakers. Cox Automotive estimates that total U.S. inventory dropped to 2.55 … 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
On Monday, July 13, Ford Motor Company will officially reveal a line of all-new Bronco products, arguably one of the most highly anticipated launches this year. Our analysts and experts agree: The new Ford SUVs have been developed to tap into the emotional appeal of true off-road, go-anywhere capability. More specifically, Ford’s new Bronco line … Continued
Automotive News, July 13, 2020 – As new-vehicle inventory at dealerships wanes across the U.S., more shoppers are turning to used cars, leading to record-high auction prices as dealers scramble to replenish their stocks. For the wholesale market, it marks a quick snap back from a steep decline in the spring. And while dealers now have no … Continued
We continue to see new peaks in daily COVID-19 cases reported in the U.S. The pace of growth is now slowing, but, unfortunately, daily deaths are now rising. The growing cases of COVID-19 threatens the economic recovery. June saw a recovery in vehicle sales and values, but a slowdown in activity from the coronavirus outbreaks … Continued
CBT News, July 10, 2020 – Cautious optimism is the sentiment many dealers are feeling as the auto retail industry settles into Q3. After strong showings for sales, considering the challenges, in May and June, some experts say that the boom from pent up demand will slowly fade. Others, however, are predicting an aggressive recovery … Continued
Year-over-year fleet sales continued its remarkable decline as the combined rental, commercial, and government purchases of new vehicles were down 69% in June. Total fleet volume was 85,104, down significantly from 277,615 in June 2019. Rental units continue to lead the drop with a 94.5% decrease year over year in June. The dismal June rental … Continued
