ATLANTA, Jan. 3, 2024 – For the U.S. auto market, the word that will likely sum up 2024 is “normalcy,” according to Cox Automotive’s Forecast: 2024. Powered by the best data and keenest insights, Cox Automotive developed five themes that offer a collective vision and valuable perspective on the road ahead for the U.S. auto … Continued
Join Cox Automotive Chief Economist Jonathan Smoke, Senior Economist Charlie Chesbrough, and the Industry Insights team for Cox Automotive Industry Insights 2024, a special webcast recapping 2023 and providing a 2024 outlook. Monday, Jan. 8 11 a.m. EST. This 60-minute session will provide a comprehensive update on the U.S. auto industry, covering the new, used, and … Continued
ATLANTA, Dec. 27, 2023 – December new-vehicle sales, announced next week, are expected to show gains over last year’s product-constrained market. According to the Cox Automotive forecast released today, sales volume this month is expected to rise 6.2% over December 2022. The seasonally adjusted annual rate (SAAR), or sales pace, is expected to finish near 15.1 million … Continued
According to a recent analysis of Xtime metrics by Cox Automotive, service activity at franchised dealerships in the U.S. decreased in November, following a rise in October. The Repair Order Volume Index fell compared to November 2022, while the Repair Order Revenue Index remained higher year over year. “At the end of the day, this … Continued
Welcome to the monthly Manheim Market Insights update. Jeremy Robb, senior director 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 wraps up the year, highlighting … 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
CNBC, Dec. 16, 2023 – A car loses about 10% of its value as soon as it’s driven off the lot. And within the first three years, that number goes up to 50%. Depreciation — the rate at which that happens — is one of those numbers everyone in the automotive world thinks about, including … Continued
Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 0.3% from November in the first 15 days of December. The midmonth Manheim Used Vehicle Value Index rose to 205.5, which was down 6.3% from the full month of December 2022. The seasonal adjustment largely drove the increase. The non-adjusted price change in … Continued
The Cox Automotive Monthly Industry Update is produced by the Cox Automotive Economic and Industry Insights team with the goal of providing a holistic look at the auto industry’s performance each month in video format. In Episode 17, Cox Automotive Manager of Economic and Industry Insights Mirlene Jean-Simon is joined by Rebecca Rydzewski, research manager, … Continued
Certified pre-owned (CPO) sales reached 205,863 in November, up 3.8% year over year, with an increase of 7,550 units from November 2022. However, this represents a slight month-over-month decrease, as CPO sales were down by over 1,300 units, or 0.6%. “Some wind has come out of the sails this quarter compared to sales between April … Continued
