This summary of information related to the Cox Automotive response to COVID-19 will be updated regularly as the situation evolves. – COVID-19’s Economic Impact on U.S. Auto Sales April 7, 2020: Cox Automotive’s Chief Economist, Jonathan Smoke, provides continuing coverage of the impact on the automotive industry from his home studio in Atlanta, GA. … Continued
CBT News, April 6, 2020 – As part of the continuing coverage of the coronavirus, CBT News is pleased to welcome back Zo Rahim, Manager of Economics and Industry Insights at Cox Automotive. In this segment, Zo and Jim Fitzpatrick discuss monthly sales totals and predictions for the auto retail industry as it works through … Continued
Auto Remarketing, April 6, 2020 – Amid the COVID-19 pandemic, the vehicle showroom has become a virtual one. And car dealers, like many other businesses, are having to shift their business to a mostly digital one. With that in mind, Cox Automotive’s Mo Zahabi joins Senior Editor Joe Overby on the Auto Remarketing podcast to … Continued
Consumer confidence continues to decline and will not likely bottom until COVID-19 cases and deaths start to diminish. COVID-19 cases keep growing in the U.S., but the pace of increase has started to slow even while the rate of testing has increased. Testing had its largest daily increase on Friday, April 3. Stay-at-home orders have … Continued
Kelley Blue Book’s Senior Managing Editor Matt DeLorenzo writes This Week in Car Buying, a weekly column on KBB.com. In this week’s news, Matt reports that shelter-in-place rules and cutbacks in dealer operations hit the industry hard at the end of the first quarter as manufacturers report a sales decline of more than 13 percent. While … Continued
This week the auto industry closed the books on Q1 2020, with sales falling quickly, ravaged by buyers more focused on social distancing than Super Duties. What vehicles were sold in March were mostly SUVs and pickups – the new normal in our new-vehicle landscape and the results of 10-year shift that turned our auto … Continued
A few automakers have reported U.S. sales for Q1 and more numbers are expected tomorrow and into the early part of next week. As expected, the numbers are historically low. As Cox Automotive data shows, sales activity in markets hard hit by COVID-19 all but came to a standstill in the past two weeks. March … Continued
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: Hardest hit COVID-19 areas in the U.S. State-level jobless claims Consumer sentiment and buying behaviors Current view of new and used retail sales and prices An outlook … Continued
Cox Automotive Chief Executive Officer Sandy Schwartz joins Automotive News Publisher Jason Stein for a daily podcast about the coronavirus crisis. Stein and Schwartz discuss how the virus is impacting and reshaping the automotive industry. Schwartz provides details on how Cox Automotive and its family of brands are supporting clients during the current COVID-19 pandemic. Listen to … Continued
The auto industry is anxiously awaiting reports of March vehicle sales, which automakers will start reporting on Wednesday, April 1. Undoubtedly, vehicle sales, which started the month strong, have plummeted as COVID-19 spread across the country, prompting an increasing number of states to issue shelter-at-home orders that shut down dealership showrooms. As a preview, Cox … Continued
