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4 min read
Cox Automotive Forecast: November New-Vehicle Sales Pace Holds Steady as Market Appears Poised to End 2024 on a Strong Note
11/26/2024
Updated, Dec. 4, 2024 – U.S. auto sales in November 2024 beat expectations, showcasing strong momentum as the year approaches its close. While initial forecasts anticipated a sales pace of 16.0 million with a volume of 1.32 million vehicles, the latest data suggests the industry is on track to hit a seasonally adjusted annual rate (SAAR) of 16.5 million – the strongest pace in over three…
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new-vehicle sales
sales forecast
SAAR
Press Releases
4 min read
Cox Automotive Forecast: October New-Vehicle Sales Steady, Volume Expected to Rise Despite Election Uncertainties and Weather Events
10/24/2024
Updated, Nov. 4, 2024 – Supported by higher incentives, solid inventory levels, and generally improving consumer sentiment, new-vehicle sales in October likely came in slightly higher than the Cox Automotive forecast. Initial estimates put total new-vehicle sales at 1.33 million units last month, a gain of 11% from October 2023. Cox Automotive had forecast 1.31 million sales, an 8% year-over-year gain. Business disruptions following two major…
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new-vehicle sales
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SAAR
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5 min read
Cox Automotive Leaves 2024 New-Vehicle Sales Forecast Unchanged as September Volume Drops; Year-to-Date Sales Up Less Than 1% Compared to 2023
09/25/2024
Updated, Oct. 3, 2024 – New-vehicle sales in September came in near 1.17 million, down 12.8% year over year and roughly in line with the Cox Automotive forecast of 1.19 million. Thanks to seasonal adjustments, the new-vehicle sales pace, or seasonally adjusted annual rate (SAAR), was 15.8 million in September, lower than the forecast of 15.9 million but a healthy gain from last month’s 15.3 million pace…
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new-vehicle sales
sales forecast
SAAR
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5 min read
Cox Automotive Forecast: August U.S. Auto Sales Show Stability Amid Seasonal and Labor Day Boost
08/28/2024
Updated, Sept. 6, 2024 – New-vehicle sales volumes increased month over month and year over year in August, as forecast by Cox Automotive. Year-over-year sales volumes last month are now estimated at 1.42 million, slightly lower than our team’s 1.44 million forecast. Indications are that fleet sales were notably lower year over year – down by more than 21%. Fleet sales in August accounted for approximately 11.6%…
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new-vehicle sales
sales forecast
SAAR
Press Releases
4 min read
Cox Automotive Forecast: New-Vehicle Sales Pace Expected to Rebound After June Disruptions
07/25/2024
Update, August 2, 2024 - New-vehicle sales in July, as forecast last week, mostly rebounded from a temporary sales slowdown driven largely by a widespread dealer software outage in the second half of June. While the June sales pace has been revised lower, to a surprisingly slow 15.2 million, the market seemingly got back on track in July with sales volume near 1.27 million, slightly lower…
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new-vehicle sales
sales forecast
SAAR
Press Releases
5 min read
Cox Automotive Forecast: US Auto Sales Expected to Finish First Half Higher by 2.9%, in Line With Expectations for Slow Growth
06/25/2024
Update, July 3, 2024 – Initial numbers indicate that new-vehicle sales volume was down year over year by more than 3%; we were forecasting a slight increase. The sales pace last month is now being pegged at 15.3 million (SAAR), well below our forecast of 16.0 million. And all these numbers will likely be revised, as the CDK outages at many dealerships may delay full and final June…
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new-vehicle sales
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SAAR
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4 min read
Cox Automotive Forecast: Despite Higher Incentives and Improved Inventory, New-Vehicle Sales Growth Remains Modest in May
05/23/2024
Updated, June 4, 2024 – The new-vehicle sales pace in May surprised to the upside, as higher inventory levels and more aggressive deal-making helped push the May sales pace slightly higher than the Cox Automotive forecast of 15.8 million. Our team was expecting a positive result in May, a gain compared to April and higher year over year, as inventory levels at the start of May…
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new-vehicle sales
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SAAR
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4 min read
Cox Automotive Forecast: April New-Vehicle Sales Pace Accelerates as Available Inventory and Higher Incentives Keep Market Rolling
04/24/2024
Updated, May 2, 2024 – April new-vehicle sales pace finished below our forecast, despite strong sales performance by Toyota and Lexus. Other automakers, including Ford and Hyundai Motor Group, finished April about where expected, with sales slightly lower than year-ago levels. With fewer selling days this past April, volume was lower, as expected, at 1.31 million units, down 3.3% year over year and down 9.1% compared…
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new-vehicle sales
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SAAR
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3 min read
Cox Automotive Forecast: March New-Vehicle Sales to Jump 4.5% From Year-Ago Levels, as U.S. Market Continues to Normalize
03/25/2024
ATLANTA, March 25, 2024 – Cox Automotive forecasts U.S. new-vehicle sales in Q1 will increase 5.6% year over year and reach 3.8 million units. The year-over-year increase in Q1 sales suggests that the new-vehicle market in the U.S. continues to recover slowly from the 10-year low – 13.8 million total sales – recorded in 2022. Sales volume in March, when announced early next month, is expected…
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new-vehicle sales
sales forecast
SAAR
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3 min read
Cox Automotive Forecast: New-Vehicle Sales Pick Up in February After Slow Start to 2024
02/23/2024
Updated, March 4, 2024 – As forecast by the Cox Automotive team, new-vehicle sales in the U.S. picked up in February, as warmer weather and increasing consumer sentiment as measured by Morning Consult combined to help sales improve notably from the January slowdown. Total new-vehicle sales in February are now estimated at 1.25 million, above our forecast of 1.22 million units and up 9.6% year over year.…
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new-vehicle sales
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