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3 min read
Cox Automotive Forecast: With New-Vehicle Inventory at a Two-Year High, August Auto Sales Expected to Increase Nearly 19% Year Over Year
08/24/2023
ATLANTA, Aug. 24, 2023 – New-vehicle sales, when announced next week by automakers, are expected to once again show big gains over last year but a slight decline in the sales pace from last month. A key reason for the volume gain is new-vehicle inventory hitting its highest level in more than two years. Stronger fleet sales are also expected to support higher sales volumes. The…
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new-vehicle sales
sales forecast
SAAR
Press Releases
5 min read
Cox Automotive Forecast: New-Vehicle Sales Accelerate in July
07/26/2023
Update, Aug. 2, 2023 – New-vehicle sales in July likely came in near 1.30 million, an increase of more than 15% over year-ago levels and very close to the Cox Automotive forecast (below) published last week. (Hat tip to our senior economist.) Vastly increased inventory levels and a general improvement in consumer sentiment are helping fuel stronger sales in the U.S. Recovering fleet business – notably…
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new-vehicle sales
sales forecast
SAAR
Press Releases
1 min read
2023 Cox Automotive Mid-Year Review Replay Available
06/28/2023
A replay of the 2023 Cox Automotive Mid-Year Review webcast held on Tuesday, June 27, is available below. Chief Economist Jonathan Smoke, Senior Economist Charlie Chesbrough, plus Chris Frey and Jonathan Gregory, senior managers of Economic and Industry Insights, presented how the auto industry performed in the first half and what’s likely ahead, including updated 2023 Cox Automotive forecasts and the Cox Automotive 1H and June U.S. auto sales forecast.…
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sales forecast
Mid-Year Review
U.S. auto sales
Market Insights
Smoke on Cars
Commentary & Voices
1 min read
2023 Cox Automotive Mid-Year Review Presentation Available
06/27/2023
The 2023 Cox Automotive Mid-Year Review was held on Tuesday, June 27. The presentation is available for download. Download the Presentation. Chief Economist Jonathan Smoke, Senior Economist Charlie Chesbrough plus Chris Frey and Jonathan Gregory, senior managers of Economic and Industry Insights, presented how the auto industry performed in the first half and how the team sees the industry progressing the remainder of the year. The speakers were…
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sales forecast
Mid-Year Review
U.S. auto sales
Market Insights
Commentary & Voices
1 min read
2023 Cox Automotive Forecasts
06/27/2023
Cox Automotive provides forecasts on the new and used vehicle markets as well as leasing, fleet and CPO sales and the Manheim Used Vehicle Value Index. The Industry Insights team reviews the forecasts quarterly and updates them as changes in the market dictate. The updated 2023 forecasts were presented during the Cox Automotive Mid-Year Review on June 27. Note: For context, final 2022 forecasts are included.…
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sales forecast
U.S. auto sales
Market Insights
Data Point
8 min read
Cox Automotive Forecast: New-Vehicle Sales to Increase More Than 11% Year Over Year Through the First Half of 2023
06/27/2023
Updated, July 6, 2023 – In the first half of 2023, the U.S. new-vehicle market has been surprisingly strong, with sales volume increasing more quickly than forecast as the industry’s inventory issues faded. Sales in June, as we’ve seen in many months prior this year, surprised to the upside, with volume beating the Cox Automotive forecast. The June sales pace has been initially estimated at 15.7…
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new-vehicle sales
sales forecast
SAAR
Press Releases
5 min read
Cox Automotive Forecast: New-Vehicle Sales In May Expected to Jump By 20% As Inventory Concerns Fade
05/25/2023
Updated, June 2, 2023 – Initial estimates of new-vehicle sales in May indeed suggest that year-over-year volume growth was even stronger than our forecast of 20.3%. New-vehicle inventory was at a two-year high heading into the month, and some automakers were beginning to turn up the volume on incentives. As expected, pent-up demand and improved inventory levels helped drive higher sales volumes. May is often a…
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new-vehicle sales
sales forecast
SAAR
Press Releases
4 min read
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…
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new-vehicle sales
sales forecast
SAAR
Press Releases
6 min read
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.…
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new-vehicle sales
sales forecast
SAAR
Press Releases
1 min read
Q1 2023 Industry Insights and Sales Forecast Call Replay Available
03/28/2023
A replay of the Q1 2023 Cox Automotive Industry Insights and Sales Forecast Call held on Monday, March 27, is available below. Chief Economist Jonathan Smoke, Senior Economist Charlie Chesbrough and Chris Frey, senior manager of economic and industry insights, presented how the auto industry performed in the first quarter and what’s likely ahead, including our updated 2023 forecasts and 10 predictions. Download the Presentation. For more information…
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sales forecast
Market Insights
Smoke on Cars
Commentary & Voices
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