Plummeting sales, caused by the spread of COVID-19 and the subsequent shutdown of states and businesses including car dealerships, caused the inventory of unsold new vehicles to pile up at the end of March. The number of new vehicles in…
COVID-19 cases keep growing in the U.S., but the pace of increase slowed down last week even while the rate of testing increased. Stay-at-home orders are working. The related closures will lead to a substantial economic contraction in March and…
Cox Automotive has launched Dealer Forward: Reimagining Automotive Retail, a weekly panel discussion that focuses on building resilience in three key auto retail areas which airs on CBT Automotive Network. The first episode features Lori Wittman, senior vice president of…
To many we’ve spoken with, March may have been the longest month ever. Or it just seemed that way as our lives, the economy, and the auto industry began a slow-motion crash into the ditch that dragged on forever. Cox…
Year-over-year growth in fleet sales began a strong decline compared to the prior year as combined rental, commercial and government purchases of new vehicles were down 27.6% in March. Total fleet volume in March was 229,725, down significantly from 317,427…
Automotive News, April 6, 2020 – Karl Brauer, executive publisher at Kelley Blue Book, joins Shift: A podcast about mobility to discuss how the COVID-19 pandemic compares to the Great Recession, what automakers and suppliers can learn from crisis and how…
A replay of the Q1 2020 Manheim Used Vehicle Value Index Call hosted by Cox Automotive Chief Economist Jonathan Smoke and Zo Rahim, manager of economics and industry insights for Cox Automotive, is available below. Jonathan and Zo were joined…
Watch this video with Chief Economist Jonathan Smoke from his home studio in Atlanta, GA, as he explains the impact of COVID-19 on the automotive industry. Jonathan examines: The latest on COVID-19’s nationwide impact National and state-level employment impacts Consumer…
ATLANTA (April 7, 2020) – Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 1.1% month over month in March. This brought the Manheim Used Vehicle Value Index to 141.9, a 4.4% increase from a year ago.…
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 1.10% month over month in March. This brought the Manheim Used Vehicle Value Index to 141.9, a 4.4% increase from a year ago. After a start of increases…
