By volume, U.S. auto sales in September were weak, with the overall market down 11% from year-ago levels. One bright spot was fleet sales: Combined rental, commercial, and government purchases of new vehicles were down only 7.3%, beating the overall market. The commercial fleet channel performed particularly well, up 18% year over year in September, … Continued
Automakers began reporting September and Q3 sales results today, with more expected to follow tomorrow. Initial reports indicate September sales volume will be down, as our Industry Insights team forecast last week. With fewer selling days versus September 2018, year-over-year comparisons were expected to show volume declines. The sales pace, however, is forecast to remain strong in September, … Continued
Automotive News, Sept. 30, 2019 — Rivian, the electric- truck startup that keeps attracting support from the industry establishment, is looking to offer a subscription service as part of its factory-direct retail model when it launches next year, its CEO said here last week. Subscriptions have emerged as a new model in the luxury sector to … Continued
As 2019 continues to deliver strong new vehicle sales, we’re seeing a consistent transition from general incentive offers to more specific discounts, which is driving record volume of incentive programs being offered to consumers and dealers (see chart below). This transition is indicative of an industry moving from fewer, broad-brush offers to many, very specific … Continued
Economic growth slowed in the second quarter and is likely to be much slower in the back half of the year compared with the first half of the year. Tame inflation: Inflation has been tame, mainly as a result of lower prices for food and energy, but now some of the consumer surplus provided by … Continued
Forbes, September 27, 2019 — Facing threats including shaky consumer confidence, and potential new tariffs on imported autos and auto parts, it looks like U.S. auto sales will be down in the fourth quarter, down for 2019 overall, and down again next year, according to Cox Automotive. One wild card: Automakers could resort to “fire sale” … Continued
Used Car News, September 26, 2019 — A new study from Cox Automotive shows that 72 percent of dealers believe automation and artificial intelligence (AI) technology will empower employees and improve customer satisfaction, without reducing staff. The Cox Automotive Car Buyer Journey also shows 67 percent of consumers believe personalization technology will improve the car-buying process. … Continued
A call replay of the Cox Automotive Q3 Auto Sales Call hosted by Chief Economist Jonathan Smoke, Senior Economist Charlie Chesbrough, Executive Analyst Michelle Krebs and Research Manager Zo Rahim is available now. During the call, the team discussed key economic indicators driving the auto market and provided a forecast and analysis of new- and used-vehicle sales for … Continued
ATLANTA, Sept. 26, 2019 – Cox Automotive is forecasting September U.S. new-vehicle sales volume to finish at 1.25 million, falling nearly 14% from last September, or close to 200,000 units. With five fewer selling days, the forecast volume drop is close to 400,000 units compared to August. Although sales volume is certain to decline in … Continued
ATLANTA, Sept. 25, 2019 – Auto dealers and consumers agree that personalization enabled by automation and artificial intelligence (AI) has the potential to greatly improve the car-buying process and the overall ownership experience. Artificial intelligence – advanced data techniques that allow computer systems to make predictions, make decisions and work more like the human brain … Continued
