First quarter real GDP growth was revised up substantially but still reflected a modestly slowing economy in aggregate. Consumer incomes saw accelerating gains in May and remained strong while spending decelerated, leading to higher savings. All key measures of inflation…
Automotive News, June 30, 2023 – Electric vehicles have reached critical mass, outpacing average days’ supply of gasoline vehicles at dealerships, according to Cox Automotive, but some dealers still need convincing. EVs are no longer exclusive to the new-vehicle market,…
Bloomberg, June 30, 2023 – The US new-car market is returning to pre-pandemic norms as supply-chain issues resolve, forcing carmakers to ramp up deals to sustain sales growth. The annual pace of new-car sales likely rose to 15.6 million in…
Last week I joined the Virginia, Maryland, Kentucky, and West Virginia Auto Dealers at their annual summer convention at The Greenbriar resort in the mountains of West Virginia. The Greenbriar is one of the oldest resorts in the country, having…
A replay of the 2023 Cox Automotive Mid-Year Review webcast held on Tuesday, June 27, is available below. Chief Economist Jonathan Smoke, Senior Economist Charlie Chesbrough, plus Chris Frey and Jonathan Gregory, senior managers of Economic and Industry Insights, presented how the auto…
By Jessica Stafford, senior vice president of Consumer Solutions at Cox Automotive I had the pleasure of representing Cox Automotive Inc. on a recent Automotive Press Association panel on my favorite topic – the state of auto retail! I was…
The 2023 Cox Automotive Mid-Year Review was held on Tuesday, June 27. The presentation is available for download. Chief Economist Jonathan Smoke, Senior Economist Charlie Chesbrough plus Chris Frey and Jonathan Gregory, senior managers of Economic and Industry Insights, presented how…
Updated, July 6, 2023 – In the first half of 2023, the U.S. new-vehicle market has been surprisingly strong, with sales volume increasing more quickly than forecast as the industry’s inventory issues faded. Sales in June, as we’ve seen in…
ATLANTA, June 27, 2023 – Despite growing interest, a gap exists between consumer enthusiasm for electric vehicles (EVs) and their actual purchasing decisions, according to new research released today by Cox Automotive. The 2023 Path to EV Adoption: Consumer and…
Auto loan performance resumed deteriorating in May as delinquencies and defaults both increased for the first time in three months. The severe delinquency rate in May was the worst since at least 2006. The default rate rose to nearly what…
