News – Cox Automotive Inc.

Cox Automotive Forecast: New-Vehicle Sales In May Expected to Jump By 20% As Inventory Concerns Fade 05/25/2023 May 2023 New-Vehicle Sales Forecast Highlights The annual new-vehicle sales pace in May is expected to finish near 14.9 million, up 2.3 million from last May’s 12.6 million pace, but down from April’s 15.9 million level. May sales volume is expected to rise 20.3% from one year ago and reach 1.35 million units. Sales volume will fall 1.1% from April, which had one additional selling day.… Read Article

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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… Read Article

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Another Record Broken: Q1 Electric Vehicle Sales Surpass 250,000, as EV Market Share in the U.S. Jumps to 7.2% of Total Sales 04/12/2023 For more than a year now, the Industry Insights team at Cox Automotive has been expecting monthly new-vehicle sales to improve. In most of 2022, monthly sales volume was consistently stuck at around 1.1 million units as low new-vehicle inventory levels squeezed sales. Inventory has improved notably, and new-vehicle sales are increasing. Inventory volume in Q1 was up by 70% compared to the same timeframe last… Read Article

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Cox Automotive Forecast: An Upside Surprise Expected for U.S. Auto Sales in Q1 2023 03/28/2023 Updated, April 3, 2023 – As the Cox Automotive Industry Insights team expected, new-vehicle sales in Q1 delivered solid year-over-year gains. Higher inventory levels and improved fleet sales combined to lift overall industry results. Honda and Nissan delivered stronger-than-expected vehicle sales in Q1; both GM and Ford had good results fueled by strong truck and SUV performance; and Tesla, buoyed by price cuts, saw big gains.… Read Article

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Cox Automotive Forecast: February New-Vehicle Sales Expected to Increase Year Over Year, Thanks to Improving Inventory, Fleet Sales Gains 02/22/2023 Updated, March 2, 2023 – The Cox Automotive Industry Insights team was expecting the auto market to deliver both year over year and month over month sales increases in February, and initial results indicate the sales gains were there. In fact, results likely beat the Cox Automotive forecast, with the sales pace likely reaching 14.9 million, above our 14.4 million forecast. Volume was near 1.13 million.… Read Article

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Cox Automotive Forecast: Improved Inventory Levels, Higher Fleet Sales Expected to Support Improving January U.S. Auto Sales 01/25/2023 Updated, Feb. 2, 2023 – While January sales reporting is not yet complete, and our team’s analysis of the results won’t be finished until early next week, the month did produce some solid sales reports and signs of market strength. Strong numbers from Hyundai and Kia were the headline, and Honda posted a much-needed year-over-year increase. Other makers reported respectable year-over-year gains, with only Toyota reporting… Read Article

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In a Down Market, EV Sales Soar to New Record 01/13/2023 In an auto market that saw total new vehicles fall 8% year over year, battery-electric vehicles (EVs) sales were a bright spot. According to the latest counts from Kelley Blue Book, total new-vehicle sales in the U.S. fell in 2022 to 13.8 million units, down from 15 million in 2021 and well down from the 17.3 million the market delivered five years ago in 2018. As… Read Article

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Cox Automotive Forecast: U.S. Auto Sales Expected to Finish 2022 Down 8% Year Over Year, as General Motors Reclaims Top Spot, Honda and Nissan Fall Significantly 12/28/2022 Updated, Jan. 4, 2023 – While sales in December likely came in slightly higher than the initial Cox Automotive forecast, and above year-ago levels, the bottom-line result will hardly be cheered as a success. In fact, December sales continue to demonstrate a softening of retail demand, although demand has not collapsed. Sales in December, and in the months prior, were aided by improving new-vehicle inventory levels… Read Article

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Cox Automotive Forecast: November New-Vehicle Sales Expected to Jump 10.8% Year Over Year, as Inventory Levels Continue to Improve 11/28/2022 Updated, Dec. 1, 2022 – When considering the new-vehicle market in the U.S., the Cox Automotive Economics and Industry Insights team has been trying to balance two distinct market realities: supply and demand. For much of 2022, tight inventory (supply) has been an anchor holding back the market. And indeed, with inventory historically low, new-vehicle sales have been depressed. Through the end of Q3, the new-vehicle market… Read Article

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Are New-Vehicle Prices Falling? It Depends on Where You Look. 10/31/2022 The fall is one of the best times of the year for sports fans: the World Series, NFL and college football, and the beginning of the NBA basketball season. And fans can’t miss the steady stream of automotive commercials during every TV time-out. The one question on the minds of today’s new-car shoppers watching these auto ads is, “When will I be able to find a… Read Article

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