The headline, aggregate measure of inflation increased on a seasonally adjusted basis in August. The Consumer Price Index (CPI) increased 0.6%, up from a 0.2% increase in July. Higher fuel prices were a key driver of the increase in August.…
ATLANTA, Sept. 15, 2023 — Cox Automotive announced today that Scott LeTourneau will become its new executive vice president and chief financial officer, effective September 19, 2023. LeTourneau has been with Cox since 2012 in various corporate development roles, most…
Income and vehicle market dynamics continued to favor consumers in August, as new-vehicle affordability improved again, extending the monthly streak of modest improvement all year. This time, strong income growth and higher incentives were enough to offset somewhat higher prices…
As widely expected, the United Auto Workers (UAW) have officially called a strike against the domestic, Detroit-based auto brands (D3). The contract between the UAW and automakers expired Thursday night, and negotiations over a new, four-year contract broke down. The…
It’s commonly believed that what goes up must eventually come down; you can only defy gravity for so long. The continued strength of the new vehicle market in 2023 is calling this widely held belief into question. At the beginning…
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 15, Cox Automotive…
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…
ATLANTA, Sept. 12, 2023 – The average price Americans paid for a new vehicle in August 2023 was virtually flat compared to one year ago, as higher inventory levels and increased incentives held year-over-year price gains in check. The average…
Access to auto credit improved again in August, according to the Dealertrack Credit Availability Index for all types of auto loans. Following tightening across all channels and all lender types in the spring, the summer has shown continuous improvement in…
New-vehicle sales rose slightly in August and were up double-digits compared to a year ago. The seasonally adjusted annual rate of sales (SAAR) declined to 15.0 million from 15.7 in July. Sales into fleet and increasing incentives contributed to the…
