Update, Aug. 2, 2023 – New-vehicle sales in July likely came in near 1.30 million, an increase of more than 15% over year-ago levels and very close to the Cox Automotive forecast (below) published last week. (Hat tip to our senior economist.) Vastly increased inventory levels and a general improvement in consumer sentiment are helping … Continued
Ford is forecasted to post improved revenue and earnings when it reports second-quarter financial results after the stock market closes on Thursday, July 27. Wall Street analysts will be more concerned about future quarters than the most recent one after Ford recently slashed the price of its electric F-150 Lightning and lowered the Mustang Mach-E … Continued
It’s an exciting time for vehicle transportation. Earlier this month, during the quarterly Manheim Used Vehicle Value Index call, I had the opportunity to provide an update on Cox Automotive’s significant role in the vehicle logistics industry – as well as the trends we’re seeing. Within the Cox Automotive portfolio, our logistics capabilities are channeled … Continued
Stellantis posts financial results before the stock market opens Wednesday, July 26. Unlike other automakers that report quarterly earnings, Stellantis provides an update every six months. As Cox Automotive’s Industry Insights team provided quarterly updates on sales, pricing and incentives for the largest automakers each quarter, we are including Stellantis’ numbers for the second quarter … Continued
The most recent quarter was another tumultuous one for Nissan Motor Corp., but in the important U.S. market, sales surged up from recent lows. That could help the Japanese automaker’s bottom line when financial results for the company’s first quarter (May-June) of its fiscal year 2023 are announced this week. In Japan, the abrupt departure … Continued
General Motors’ higher vehicle sales and strong ATPs are expected to produce improved financial results from a year ago, when the automaker reports second-quarter earnings before the stock market opens on Tuesday, July 25. Wall Street analysts have been upping their forecast for GM’s results throughout the second quarter and say they will not be … Continued
Welcome to the monthly Manheim Market Insights update. This month, Chris Frey, senior manager of economic and industry insights at Cox Automotive, offers a monthly check-in on what we are seeing in the used wholesale and retail markets, all through the wide lens of the data available from Cox Automotive. This month’s video highlights the midmonth … Continued
The initial retail sales report for June was mixed, with upward revisions to May but weaker-than-expected growth in June. Adjusted for inflation, retail sales were unchanged for the month. Existing home sales declined more than expected in June. Supply continues to limit what is possible for sales. Residential construction starts declined in June, reversing a … Continued
A recent analysis by Cox Automotive of Xtime metrics revealed that service activity increased again at franchised dealerships in the U.S. in June compared to the previous month. Meanwhile, service revenue decreased just slightly for the second month, off its previous record highs set in the spring. The Repair Order Volume Index is down year … Continued
The video below is part of a biweekly Auto Market Report series focusing on data and insights that provide a holistic view of the auto industry. Chief Economist Jonathan Smoke leads our effort to translate data and trends into actionable insights. Download this week’s presentation