Market Insights – Cox Automotive Inc.

Cox Automotive Lowers Full-Year New-Vehicle Sales Forecast as Persistent Supply Problems Continue to Hold Back Auto Industry 06/28/2022 UPDATED, July 5, 2022 – The Cox Automotive Industry Insights team had expected a year-over-year decline in June auto sales. The actual decline, however, was even greater than expected. Sales last month came in at approximately 1.125 million; the forecast was for 1.2 million. Some declines were particularly notable, with large year-over-year declines at Buick, Honda, Mazda, Nissan and others. The Honda drop was hard to… Read Article

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Cox Automotive Forecast: May Auto Sales Expected to Fall to Slowest Pace in 2022 05/25/2022 UPDATED, June 2, 2022 – May new-vehicle sales came in lower than the Cox Automotive forecast issued last week. Our team was expecting a year-over-year volume decline of roughly 28%; results indicate a drop of more than 29%. Auto sales in May are traditionally quite strong, spurred in part by the long Memorial Day Weekend. But that was not the case this year. Overall new-vehicle buying… Read Article

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Cox Automotive Forecast: No Relief in Sight as Slow New-Vehicle Sales Persist in April 04/27/2022 UPDATED, May 3, 2022 – While April sales are still being tallied by our teams, initial projections indicate total sales will come in near 1.2 million, down more than 20% from year-ago levels and very near our forecast released last week. As Cox Automotive Senior Economist Charlie Chesbrough noted earlier, the new-vehicle inventory situation has not materially changed and continues to hold new-vehicle sales in check.… Read Article

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10 Takeaways from U.S. Auto Sales: Q1 2022 04/20/2022 New-vehicle sales last quarter came in at 3.3 million, according to the latest Kelley Blue Book counts, a drop from 3.9 million in the first quarter of 2021. Sales in the quarter were down 15.7% year over year, but as the Cox Automotive Industry Insights team has repeatedly stated: There is NOT a demand problem in the market right now. There are plenty of interested—and… Read Article

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Cox Automotive Q1 2022 U.S. Auto Sales Forecast and Industry Insights Webcast Replay Available 03/29/2022 A replay of the Cox Automotive Q1 2022 U.S. Auto Sales Forecast and Industry Insights webcast held on Monday, March 28, is available below. Cox Automotive Chief Economist Jonathan Smoke, Senior Economist Charlie Chesbrough, and the Industry Insights team presented data and insights to help quantify how the industry performed, reviewed the Cox Automotive first-quarter forecast, and provided an outlook on what to expect going forward.… Read Article

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Cox Automotive March Forecast: Slow March Auto Sales to Cap Weakest Q1 in a Decade 03/28/2022 UPDATED, April 1, 2022 – With a trifecta of issues impacting the new-vehicle market in the first quarter – low inventory, low incentives, high prices – sales have mostly been stuck in low gear. Our Industry Insights team was expecting lower year-over-year sales and spoke to that point during the Q1 2022 U.S. Auto Sales Forecast and Industry Insights webcast earlier this week, and early data… Read Article

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Cox Automotive February Forecast: Tight Inventory Keeps U.S. Auto Sales From Gaining Traction 02/23/2022 UPDATED, March 2, 2022 – February sales finished near 1.052 million, slightly below the Cox Automotive forecast, as tight new-vehicle inventory held back sales even more than expected. Since August, monthly sales volume has averaged near 1.05 million, and February was no exception. Until available supply at dealerships makes a significant improvement, the Cox Automotive Industry Insights team is forecasting new-vehicle sales will remain stuck at this million-unit level. As… Read Article

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Cox Automotive January Forecast: U.S. Auto Sales Volume Holds Steady, Inventory Levels Remain Tight 01/26/2022 UPDATED, Feb. 3, 2022 – January new-vehicles sales came in at 998,000 according to our best estimates, just slightly below our forecast of 1.01 million, but well within our expectations for the industry. As noted in our forecast release, with inventory tight, sales volumes are stuck in the neighborhood of 1 million units a month. Sales in January were down approximately 10% from January 2021, which… Read Article

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10 Takeaways from U.S. Auto Sales: 2021 01/21/2022 Our Kelley Blue Book team has finished their final tally of 2021 auto sales in the U.S. market. Total volume by the Kelley Blue Book count came in at 15,061,885, a solid year by historical standards. But it was far from an easy 15 million. Demand was there, and sales volumes in March, April and May were among the best in the past decade. Inventory then… Read Article

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Cox Automotive Forecast: Slow Second Half Holds Full-Year Sales Below 15 Million for Second Straight Year 12/28/2021 UPDATED, Jan. 4, 2022 – Toyota beating General Motors in 2021 is a significant event and will be the dominant headline of 2021 sales reporting. General Motors had been the No. 1, top-selling automaker in the U.S. for generations, so Toyota on top is noteworthy. In all, we expect 2021 to finish near 15 million units, up only 3.5% from 2020. December sales appear to be finishing… Read Article

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