sales forecast Archives

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… Read Article

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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… Read Article

new-vehicle sales sales forecast SAAR Press Releases

2024 Cox Automotive Forecasts 10/07/2024 Cox Automotive provides forecasts on the new and used vehicle markets, leasing, fleet and CPO sales, and the Manheim Used Vehicle Value Index. The full-year 2024 forecasts were presented during the Q3 Cox Automotive Industry Insights and Sales Forecast Call on Sept. 25, and the Manheim Used Vehicle Value Index forecast was updated on Oct. 7. The Economic and Industry Insights team reviews the forecasts quarterly… Read Article

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Q3 2024 Cox Automotive Industry Insights and Sales Forecast Call Replay Available 09/25/2024 A replay of the Q3 2024 Cox Automotive Industry Insights and Sales Forecast call, held on Wednesday, Sept. 25, is available below. Cox Automotive Chief Economist Jonathan Smoke and the Industry Insights team provided an update on the U.S. automotive market for the third quarter, covering the electrified, new and used markets with insights and data from Cox Automotive. The team also reviewed Cox Automotive’s 2024 forecasts, including the… Read Article

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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

new-vehicle sales sales forecast SAAR Press Releases

Q3 2024 Cox Automotive Industry Insights and Sales Forecast Call Presentation Available 09/25/2024 The Q3 Cox Automotive Industry Insights and Sales Forecast call will be held today, Sept. 25, at 11 a.m. EDT. The presentation is available for download. Download the Presentation Join Cox Automotive Chief Economist Jonathan Smoke and the Industry Insights team for this 60-minute session. The team will provide a comprehensive update on the automotive industry for the third quarter. They will cover the electrified, new, and… 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

new-vehicle sales sales forecast SAAR Press Releases

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

new-vehicle sales sales forecast SAAR Press Releases

2024 Cox Automotive Mid-Year Review Replay Available 06/25/2024 A replay of the 2024 Cox Automotive Mid-Year Review webcast held on Tuesday, June 25, is available below. Chief Economist Jonathan Smoke, Senior Economist Charlie Chesbrough, and other members of the Economic and Industry Insights team presented how the auto industry performed in the first half and what’s likely ahead, including updated 2024 Cox Automotive forecasts and the Cox Automotive 1H and June U.S. auto sales forecast. Plus, take… 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

new-vehicle sales sales forecast SAAR Press Releases