A replay of the 2020 Cox Automotive Industry Insights Breakfast, held in Detroit on Monday, is available below. Cox Automotive Chief Economist Jonathan Smoke and his team shared their insights on how the automotive industry fared in 2019 and what they see coming in 2020. Vince Zappa, president of Clutch Technologies, and Sonya Harbaugh, co-founder and … Continued
Cars, which have become also-rans in a U.S. automotive marketplace dominated by SUVs and pickup trucks, could make a comeback if times get tough, says Charlie Chesbrough, Cox Automotive’s senior economist. He’s not predicting a recession anytime soon. But the U.S. has seen the longest expansion of economic growth in modern history. That’s bound to … Continued
It is important to look at average days in inventory for retail used vehicles because as used retail inventory ages, dealers begin to slow wholesale purchases. We took a look back at used-vehicle inventory levels over the past three years. 2019 started with the lowest days in inventory in January with 74 days and ended the … Continued
New-vehicle inventories came in under 4 million units for the eighth consecutive month, ending the year at their lowest levels since September 2015. Days’ supply for December was 56, down 4 days year over year and down 10 days from November. Average car days’ supply came in at 49, down 9 days year over year … Continued
Job growth is slowing, wage gains are not accelerating, and consumers are pulling back on spending as evidenced by disappointing December car sales. Job creation slows: December saw job creation slow down relative to the much bigger gain in November. Even with the smaller gain, both the headline and the underemployment rates are now at … Continued
Auto sales in 2019 came in above the magic 17-million mark, according to our team at Kelley Blue Book, but just barely. Vehicle sales of 17,042,363 kept the streak alive, but that number includes medium duty pickups and exotic cars. As our Chief Economist Jonathan Smoke notes, it was fleet sales that got us to … Continued
A replay of the Q4 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. During the call, Jonathan and Zo presented Cox Automotive’s Manheim Used Vehicle Value Index, the automotive industry’s only used vehicle index that … Continued
Fleet was the driver of strength in the new-vehicle market for 2019 but continued to cool off in December. Combined rental, commercial, and government purchases of new vehicles were down 0.7% year over year in December. Commercial fleet sales were the strongest segment, up 14% in December. Total fleet volume in December was 220,034, down from … Continued
ATLANTA (Jan. 8, 2020) – Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 1.54% month over month in December. This brought the Manheim Used Vehicle Value Index to 141.1, a 2.5% increase from a year ago. Following a normalizing trend in weekly Manheim Market Report (MMR) prices at the end … Continued
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 1.54% month over month in December. This brought the Manheim Used Vehicle Value Index to 141.1, a 2.5% increase from a year ago. Following a normalizing trend in weekly Manheim Market Report (MMR) prices at the end of November, December saw stability … Continued
