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4 min read
Cox Automotive Forecast: New-Vehicle Sales Pace Remains Muted Despite Higher Inventory Levels
11/24/2023
Updated, Dec. 5, 2023 – Early indications suggest the new-vehicle sales pace in November came in at a seasonally adjusted annual rate of 15.3 million, aligned with the Cox Automotive forecast released late last month. Industry sales volumes were likely up more than 7% year over and year November and slightly higher than October. As noted in our forecast, new-vehicle sales typically gain momentum in the…
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new-vehicle sales
sales forecast
SAAR
Press Releases
4 min read
Cox Automotive Forecast: Despite Ongoing UAW Strike, U.S. Auto Sales Pace in October Expected to Increase from September
10/25/2023
Updated, Nov. 2, 2023 – October new-vehicle sales in the U.S. continued showing healthy results, as forecast by Cox Automotive late last month, with enough buyers shrugging off high loan rates and staying in market. Initial estimates show that the seasonally adjusted annual rate (SAAR), or sales pace, came in right at the year-to-date average of 15.5 million, and sales volume was 1.20 million in October,…
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new-vehicle sales
sales forecast
SAAR
Press Releases
3 min read
Another Quarter, Another Record: EV Sales in the U.S. Surpass 300,000 in Q3, as Tesla Share of EV Segment Tumbles to 50%
10/12/2023
Electric vehicle (EV) sales volumes set another record in Q3, as total sales of battery-powered vehicles jumped past 300,000 for the first time in the U.S. market. Year-to-date EV sales through September reached just over 873,000, putting the market firmly on track to surpass 1 million for the first time ever. The milestone will likely be achieved in November. Total EV sales in Q3, according to an…
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Sales
new-vehicle sales
U.S. auto sales
Electric Vehicles
EVs
EV
Electrified Vehicles
Market Insights
Data Point
7 min read
New-Vehicle Market Shrugs Off High Loan Rates, UAW Strike, Closes Q3 on a Strong Note; September Sales Forecast by Cox Automotive to be Up 13% Year Over Year
09/26/2023
Updated, Oct. 4, 2023 – As forecast by Cox Automotive late last month, new-vehicle sales in Q3 in the U.S. were solid, spurred on by vastly improved inventories, higher fleet sales and consumers still in market despite elevated prices and high auto loan rates. Initial estimates suggest the Q3 new-vehicle market finished slightly above Cox Automotive’s 15%, 3.93 million forecast, up from 3.42 million in Q3…
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new-vehicle sales
sales forecast
SAAR
Press Releases
3 min read
Cox Automotive Forecast: With New-Vehicle Inventory at a Two-Year High, August Auto Sales Expected to Increase Nearly 19% Year Over Year
08/24/2023
ATLANTA, Aug. 24, 2023 – New-vehicle sales, when announced next week by automakers, are expected to once again show big gains over last year but a slight decline in the sales pace from last month. A key reason for the volume gain is new-vehicle inventory hitting its highest level in more than two years. Stronger fleet sales are also expected to support higher sales volumes. The…
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new-vehicle sales
sales forecast
SAAR
Press Releases
5 min read
Cox Automotive Forecast: New-Vehicle Sales Accelerate in July
07/26/2023
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 fuel stronger sales in the U.S. Recovering fleet business – notably…
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new-vehicle sales
sales forecast
SAAR
Press Releases
4 min read
Electric Vehicle Sales in Q2 Strike Another Record, but Growth Ahead Will Be Hard Fought
07/12/2023
Nearly 300,000 new electric vehicles (EVs) – full battery-electric vehicles – were sold in the U.S. in Q2, a record for any quarter and an increase of 48.4% from Q2 2022. Tesla, again, was the largest seller of EVs in the U.S., with more than 175,000 sold, an increase of 34.8% quarter over quarter. Sales growth at Tesla, and the EV segment overall, was aided by…
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Sales
new-vehicle sales
U.S. auto sales
Electric Vehicles
EVs
EV
Electrified Vehicles
Market Insights
Data Point
8 min read
Cox Automotive Forecast: New-Vehicle Sales to Increase More Than 11% Year Over Year Through the First Half of 2023
06/27/2023
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 many months prior this year, surprised to the upside, with volume beating the Cox Automotive forecast. The June sales pace has been initially estimated at 15.7…
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new-vehicle sales
sales forecast
SAAR
Press Releases
5 min read
Cox Automotive Forecast: New-Vehicle Sales In May Expected to Jump By 20% As Inventory Concerns Fade
05/25/2023
Updated, June 2, 2023 – Initial estimates of new-vehicle sales in May indeed suggest that year-over-year volume growth was even stronger than our forecast of 20.3%. New-vehicle inventory was at a two-year high heading into the month, and some automakers were beginning to turn up the volume on incentives. As expected, pent-up demand and improved inventory levels helped drive higher sales volumes. May is often a…
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new-vehicle sales
sales forecast
SAAR
Press Releases
4 min read
Cox Automotive Forecast: New-Vehicle Sales Pick Up in April as Inventory Levels Continue to Improve
04/25/2023
Updated, May 3, 2023 – Fed by higher inventory levels and a healthy dose of fleet deliveries, April new-vehicle sales likely finished higher than the Cox Automotive forecast. As noted below, our team was expecting the annual sales pace in April to hit 15.1 million – a sizable increase from April 2022 – and initial estimates suggest the pace was even stronger, approaching 15.9 million. Solid…
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new-vehicle sales
sales forecast
SAAR
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