The Federal Reserve stuck to the plan of cutting 25 BPs (basis points) to continue the process of moving rates away from a too-restrictive level that has contributed to lackluster retail vehicle demand of late. There is no doubt: High…
Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) were lower in October compared to September. The Manheim Used Vehicle Value Index (MUVVI) fell to 202.8, a decline of 3.2% from a year ago. The seasonal adjustment to…
Key Highlights Economic Insights The first estimate of third-quarter real GDP growth showed a deceleration to 2.8% from 3.0% in the second quarter. Personal Income and Spending As expected, personal income growth accelerated to 0.3% from 0.2% in August. Employment…
It’s no secret that the automotive industry is rapidly changing — especially when it comes to EVs. With that change comes a host of new challenges for dealers and OEMs, from how these vehicles are distributed when new to how…
ATLANTA, Oct. 30, 2024 – Cox Automotive, the world’s largest automotive services and technology provider, announces new applications of the company’s unique first- and third-party data assets combined with the industry’s only true omnichannel car buying experience. The result –…
Jonathan Smoke, chief economist at Cox Automotive, joins this Car Dealership Guy Podcast episode to discuss some of the biggest topics shaping the 2024 car market, including shocks and surprises, the painful new phase for the used car market, why…
Cox Automotive’s Auto Market Report video delivers a comprehensive analysis of the current automotive market. Chief Economist Jonathan Smoke leads our effort to translate data and trends into actionable insights. This video covers a wide range of topics, including consumer…
Key Highlights Housing Market Trends The housing market displayed mixed trends in September, with existing and new home sales diverging significantly. Labor Market Dynamics The labor market has been deteriorating this year, with claims increasing and lasting longer. Consumer Sentiment…
Updated, Nov. 4, 2024 – Supported by higher incentives, solid inventory levels, and generally improving consumer sentiment, new-vehicle sales in October likely came in slightly higher than the Cox Automotive forecast. Initial estimates put total new-vehicle sales at 1.33 million…
The electric vehicle (EV) market continues to expand in the U.S., as recent Cox Automotive data reveal a year-over-year rise in sales for both new and used EVs. September marked the sixth consecutive month in which new EV sales surpassed…
