Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) were lower in September compared to August. The Manheim Used Vehicle Value Index (MUVVI) fell to 203.0, a decline of 5.3% from a year ago. The seasonal adjustment to the index amplified the change for the month, as non-seasonally adjusted values fell slightly. The … Continued
Cox Automotive provides forecasts on the new and used vehicle markets, leasing, fleet and CPO sales, and the Manheim Used Vehicle Value Index. The full-year 2024 forecasts were presented during the Q3 Cox Automotive Industry Insights and Sales Forecast Call on Sept. 25, and the Manheim Used Vehicle Value Index forecast was updated on Oct. … Continued
In this episode of the Used Car Dealer Podcast, Zach Klempf interviews two special guests from Cox Automotive: Jade Terreberry (senior director, Strategic Planning & Business Development) and Micah Tindor (senior director, Strategic Planning for Kelley Blue Book ICO). They cover a range of topics relevant to today’s used car market, from digital advertising strategies … Continued
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 spending patterns, consumer sentiment, retail vehicle sales, financing rates, supply dynamics, pricing trends and leading … Continued
Key Highlights Economic Indicators and Consumer Spending According to the final estimate, second-quarter real GDP growth was unchanged at a strong 3.0%. GDP history was revised modestly upward back to 2019. Consumer spending growth slowed in August. July’s growth was abnormally strong due to an unusual increase in auto sales and service caused by disruptions … Continued
ATLANTA, Sept. 30, 2024 – Cox Automotive, the world’s largest automotive services and technology provider, today announces Retail360 – a comprehensive suite of tools that enables the industry’s only true omnichannel experience. Omnichannel connects the entire auto retail ecosystem along every step of the car-buying and owning journey – an industry first that finally creates … Continued
A replay of the Q3 2024 Cox Automotive Industry Insights and Sales Forecast call, held on Wednesday, Sept. 25, is available below. Cox Automotive Chief Economist Jonathan Smoke and the Industry Insights team provided an update on the U.S. automotive market for the third quarter, covering the electrified, new and used markets with insights and data … Continued
Updated, Oct. 3, 2024 – New-vehicle sales in September came in near 1.17 million, down 12.8% year over year and roughly in line with the Cox Automotive forecast of 1.19 million. Thanks to seasonal adjustments, the new-vehicle sales pace, or seasonally adjusted annual rate (SAAR), was 15.8 million in September, lower than the forecast of 15.9 … Continued
The Q3 Cox Automotive Industry Insights and Sales Forecast call will be held today, Sept. 25, at 11 a.m. EDT. The presentation is available for download. Join Cox Automotive Chief Economist Jonathan Smoke and the Industry Insights team for this 60-minute session. The team will provide a comprehensive update on the automotive industry for the third … Continued
The highly competitive nature of the car business reminds me of college football. Instead of teams like Georgia, USC, or Wisconsin, we have automakers like Honda, Ford and Jeep, all competing against one another with their own unique playbooks and rosters. While one car company gains yardage with full-size trucks, another makes first downs with … Continued
