New-vehicle sales were strong in November – strong enough to all but guarantee a full-year sales total for 2019 in the 17-million neighborhood, the fifth year in a row we’ve pushed sales above the magic 17 million mark. We’re in a healthy new-car market right now with the U.S. consumer in the buying mood, energized by … Continued
The number of new vehicles in inventory at the start of December declined after a strong November sales month. New-vehicle inventory for November came in at 3.6 million units, slightly lower than October. It was the seventh consecutive month that the industry’s inventory was below 4 million units. The average days’ supply of all new … Continued
The Fed officially left short-term rate policy unchanged at the conclusion of their December meeting today, which was the last meeting in 2019. After three rate cuts this year, the Fed seems set on a steady course in 2020 barring a major change in the economy. The Fed’s official statement acknowledged that economic growth is … Continued
CBT News, Dec. 2, 2019 – Jim Fitzpatrick spoke with Charlie Chesbrough, senior economist and senior director of industry insights at Cox Automotive, to receive an overview of this November’s numbers and what we can expect from Q4 and beyond. Charlie addressed headwinds, where the 2019 SAAR will fall and what factors he expects to influence the auto … Continued
Derived from a quarterly survey that Cox Automotive issues to a representative sample of franchised and independent auto dealers from around the country, the Cox Automotive Dealer Sentiment Index (CADSI) measures dealer perceptions of current retail auto sales and sales expectations for the next three months as “strong,” “average” or “weak.” The survey also asks … Continued
ATLANTA, Dec. 9, 2019 – According to the Q4 2019 Cox Automotive Dealer Sentiment Index (CADSI) released today, U.S. automobile dealers continue to view the current market as negative, with an index score of 47. The slight decrease from Q3’s current market index of 48 was not statistically significant. The index reading of 47 indicates … Continued
The first week of December delivered strong readings related to the job market, consumer sentiment and retail vehicle sales. Jobs, jobs, jobs: November saw the second-best number of jobs created for the year and dramatically surprised to the upside. The unemployment rate is back down to 3.5%, which is a 50-year low. Wage gains have been … Continued
Strong fleet sales have supported the new-vehicle market this year, but growth is slowing down. Combined rental, commercial and government purchases of new vehicles were down 9.3% year over year in November. Total fleet volume in November was 184,793, compared to 203,777 in November 2018. Through November, fleet sales are up 3.2% and still on … Continued
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 0.98% month-over-month in November. This brought the Manheim Used Vehicle Value Index to 138.9, a 0.1% decrease from a year ago, and the second consecutive year-over-year decline for the Index. The accelerating declining trend in weekly Manheim Market Report (MMR) prices that … Continued
While fewer automakers are reporting monthly sales numbers, the team at Cox Automotive has been tracking results as they can. Our take: November was another solid month of auto sales in the U.S. There were plenty of incentives in play and solid inventory at dealerships. According to our Kelley Blue Book team, average transaction prices … Continued
