News – Cox Automotive Inc.

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… Read Article

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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%… Read Article

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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… Read Article

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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… Read Article

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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… Read Article

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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… Read Article

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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… Read Article

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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.… Read Article

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Cox Automotive Forecast: New-Vehicle Sales in January Expected to Maintain Healthy Pace Set in December 01/29/2024 New-vehicle sales in January came in lower than the Cox Automotive forecast, as a likely pullback from hotter-than-expected sales in December and colder-than-expected weather across much of the country in the middle of the month combined to hold consumers back. Total new-vehicle sales in January are now estimated at 1.08 million, below our forecast of 1.15 million, but up from year-ago levels. Compared to December 2023,… Read Article

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Cox Automotive Forecast: U.S. Auto Sales Expected to Finish 2023 Up More Than 11% Year Over Year, as General Motors Retains Top Spot, Hyundai Motor Group Jumps Past Stellantis 12/27/2023 ATLANTA, Dec. 27, 2023 – December new-vehicle sales, announced next week, are expected to show gains over last year’s product-constrained market. According to the Cox Automotive forecast released today, sales volume this month is expected to rise 6.2% over December 2022. The seasonally adjusted annual rate (SAAR), or sales pace, is expected to finish near 15.1 million in December. This SAAR is 1.6 million higher compared to last… Read Article

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