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 June and general information on segment performance for the first 15 … 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
Automotive News, June 15, 2020 – Automaker and dealer inventories fell sharply in May as retail sales recovered from their late March lows and production continued to ramp up after lengthy stoppages. While most automakers declined to report their inventory figures, those that did saw steep declines in their days’ supply to start June, thanks … Continued
Automotive News, June 15, 2020 – Cox Automotive Chief Economist Jonathan Smoke joined Automotive News Publisher Jason Stein for a daily podcast series about the coronavirus crisis. Smoke says inventory shortages, fewer incentives, weaker demand and tightening auto loan standards could slow the industry’s sales momentum in the second half of the year. Listen to the episode.
The peak in daily new COVID-19 cases in the U.S. was seven weeks ago, but some markets are seeing new case growth because of new outbreaks and more testing. The national trend in new cases has stopped its decline recently. Some cities and states are considering re-imposing lockdowns. The economic recovery can now be seen in … Continued
Another surprisingly strong month of sales in May, combined with the fact that auto assembly plants around the globe are still ramping up and not all are at full production, has left inventories low, especially for trucks and specific automotive brands, notably Toyota, according to a Cox Automotive analysis. June sales have been relatively strong, … Continued
CBT News, June 11, 2020 – In this segment, Sandy Schwartz, president and CEO of Cox Automotive, talks to CBT’s Jim Fitzpatrick about how the auto industry is approaching recovery efforts, the unexpected spike of auto sales in May, and much more. Watch the episode.
The Fed affirmed its 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.” Rates are expected to remain where they are through 2022. Chairman Jerome Powell, in a meeting earlier today, acknowledged some … 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 Q2 Cox Automotive Dealer … Continued
Our global auto industry sits idle at an interesting intersection. The signs of a recovery are clear and plentiful, but the return to normal is anything but an easy path forward. This is particularly true in the U.S., where May auto sales for both new and used vehicles were well above April numbers but still … Continued
