We ended 2019 with mostly positive data. Home sales continue to be strong as both new home sales and pending home sales increased in November. But news starting 2020 has been less so. Wary consumers: Consumer confidence failed to see improvement in December, but it isn’t declining either. The main concern is that consumers do … Continued
UPDATE, Jan. 3, 2020 — Even though December U.S. auto sales came in below forecast, it still appears we will finish near 17 million. With sales reporting day mostly in the rearview mirror, Cox Automotive industry analysts and experts share their thoughts on some of the headlines of the U.S. automotive industry from December sales … Continued
ATLANTA, Dec. 23, 2019 – No coal is expected in this year’s stockings as annual vehicle sales head toward another 17 million finish. Sales volume this month is likely to be just enough to lift the market above 17 million units for the fifth consecutive year. Cox Automotive expects auto sales in the U.S. to reach … Continued
Economic growth is slowing, but the consumer, responsible for 90% of this year’s growth, continues to spend, and November saw an upward trend in spending fueled by an upward trend in income growth. Inflation remains contained and well below the Fed’s target, which reinforces that rate policy is likely to remain stable. Housing positive: Housing … Continued
As we roll toward the end of 2019, the industry doomsayers have been quietly predicting the end of the happy days of 17-million-plus SAAR, and yet consumers continue to buy and lease cars at a rate contrary to these dire predictions. November was a great example, with an annualized trend of 17.1 million, the 6th … Continued
UPDATE, Dec. 18, 2019 – Fiat Chrysler Automobiles NV and PSA Group signed a binding agreement outlining a 50/50 merger of their businesses to create the fourth largest global automotive OEM and the third largest by revenue, according to a company statement. Michelle Krebs, executive analyst for Autotrader, provides her thoughts on the merger: The FCA and … Continued
The top 10 new luxury and non-luxury retail models registered in the third quarter of this year continue to show a clear consumer focus on utility vehicles and pickup trucks. Of the top 10 luxury and top 10 non-luxury vehicles sold at retail and registered through Q3, 11 were sport-utility vehicles, three were pickup trucks … Continued
Tax refunds drive the demand that makes the spring season the most important season of the year for the used-vehicle market. In 2020, we expect the market to follow the same weekly pattern as the 2018 and 2019 markets. Week 9 is likely to see a 20-30% jump in used retail sales. The tax refund … Continued
Sales of certified pre-owned (CPO) vehicles increased 15% year over year in November and were up 3% month over month compared to October. For the month, 237,467 CPO units were sold. This year CPO sales are up 4% versus 2018, growing at a comfortable pace above 2018’s record-setting performance and exceeding 2.5 million sales through November. … Continued
While we saw progress on trade agreements, new economic data last week highlight concerns about the bedrock of the U.S. economy –the consumer. Trade agreements closer: Last week saw progress on trade uncertainty as a supplementary “protocol” was agreed to by the U.S., Mexico and Canada to get the changes Democrats wanted to see in the … Continued
