New-vehicle inventories in the U.S. closed June at new recent lows, despite auto assembly plants cranking back up after lengthy spring shutdowns due to the COVID-19 pandemic, according to a Cox Automotive analysis of vAuto Available Inventory data. The total U.S. supply of unsold new vehicles stood at 2.55 million units at the end of … Continued
A replay of the Q2 2020 Manheim Used Vehicle Value Index Call hosted by Cox Automotive Chief Economist Jonathan Smoke and Zo Rahim, manager of Economic and Industry Insights for Cox Automotive, is available below. Jonathan and Zo were joined by Whitney Gerkin, director of Manheim’s Digital Marketplace, who shared insights on how Manheim has … Continued
We can all agree: It’s good to have the first half of 2020 in the rearview mirror. It will be remembered for all the wrong reasons, and all of us at Cox Automotive are hoping the second half of this not-great year has more ups than downs. Our Kelley Blue Book data team has crunched … Continued
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 8.95% month over month in June. This brought the Manheim Used Vehicle Value Index to 149.3, a 6.3% increase from a year ago and a new record-high for the Index. Access the full report. Watch a replay of the Q2 Manheim Used … Continued
ATLANTA (July 8, 2020) – Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 8.95% month over month in June. This brought the Manheim Used Vehicle Value Index to 149.3, a 6.3% increase from a year ago and a new record-high for the Index. Manheim Market Report (MMR) prices improved over … 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
We continue to see new peaks in daily COVID-19 cases reported in the U.S., a trend likely to continue through most of July even assuming that new restrictions are effective in curtailing the growth in cases. The economic recovery can be seen in pending home sales in May, new vehicle sales in June, and 4.8 … Continued
CBT News, July 1, 2020 — Dealers are facing a unique situation in many markets, where consumer demand is actually higher than supply according to Cox Automotive’s Bureau of Economic Analysis and Wards Automotive data. In fact, in this past May, non-fleet sales increased 63 percent after bottoming out in April. Brian Finkelmeyer, senior director … Continued
The U.S. auto industry is closing the books on the first half of 2020 today, and many in the industry are likely saying, “Good riddance.” It was a tough half for auto sales – to say the least. The Cox Automotive Industry Insights team has been tracking the industry’s progress throughout the ups-and-down of 2020 – remember, sales were … 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
