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3 min read
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…
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Sales
new-vehicle sales
U.S. auto sales
Electric Vehicles
EVs
EV
Electrified Vehicles
Market Insights
Data Point
1 min read
2023 Cox Automotive Forecasts
03/27/2023
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 Q1 2023 Industry Insights and Sales Forecast Call on March 27. Note: For…
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sales forecast
U.S. auto sales
Market Insights
Data Point
2 min read
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…
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Sales
new-vehicle sales
U.S. auto sales
Electric Vehicles
EVs
EV
Electrified Vehicles
Market Insights
Data Point
5 min read
General Motors Holds Onto Top Spot, EV Sales Hit New Record, Tesla is Luxury Leader: Takeaways from Q3 2022 U.S. Auto Sales
10/14/2022
New-vehicle sales in the U.S. were remarkably stable through the third quarter of 2022. Sales volumes in July came in at 1.14 million units and followed in August at 1.14 million. September sales dropped a bit, to 1.12 million. In fact, the Q3 average of 1.13 million sales a month was aligned with the market average sales volume for the past year, which was, again, an…
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Sales
new-vehicle sales
U.S. auto sales
Electric Vehicles
EVs
EV
Electrified Vehicles
Market Insights
Data Point
1 min read
2022 Cox Automotive Forecasts
09/28/2022
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 2022 forecasts were presented during the Cox Automotive Q3 2022 Industry Insights and Sales Forecast Call on September 28. Download the 2022…
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sales forecast
U.S. auto sales
Market Insights
Data Point
4 min read
10 Takeaways from U.S. Auto Sales: Q2 2022
07/19/2022
New-vehicle sales in Q2 were off by more than 20%, as tight inventory continues to hold back the market. High prices are certainly impacting some buyers, but the Industry Insights team at Cox Automotive continues to believe new-vehicle demand is relatively healthy and, with sufficient supply, sales volumes could be higher. At the end of Q2, Cox Automotive lowered its full-year forecast to 14.4 million new-vehicles…
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Sales
new-vehicle sales
U.S. auto sales
Electric Vehicles
EVs
EV
Electrified Vehicles
Market Insights
Data Point
3 min read
10 Takeaways from U.S. Auto Sales: Q1 2022
04/20/2022
New-vehicle sales last quarter came in at 3.3 million, according to the latest Kelley Blue Book counts, a drop from 3.9 million in the first quarter of 2021. Sales in the quarter were down 15.7% year over year, but as the Cox Automotive Industry Insights team has repeatedly stated: There is NOT a demand problem in the market right now. There are plenty of interested—and…
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Sales
new-vehicle sales
U.S. auto sales
Electric Vehicles
EVs
EV
Electrified Vehicles
Market Insights
Data Point
4 min read
10 Takeaways from U.S. Auto Sales: 2021
01/21/2022
Our Kelley Blue Book team has finished their final tally of 2021 auto sales in the U.S. market. Total volume by the Kelley Blue Book count came in at 15,061,885, a solid year by historical standards. But it was far from an easy 15 million. Demand was there, and sales volumes in March, April and May were among the best in the past decade. Inventory then…
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Sales
new-vehicle sales
U.S. auto sales
Market Insights
Data Point
4 min read
10 Takeaways from U.S. Auto Sales: Q3 2021
10/15/2021
Inventory was the auto industry’s story in the third quarter of 2021. More specifically, a lack of new-vehicle inventory. It was the same story for grocery stores and big-box chains: supply disruptions, parts shortages and COVID-19 outbreaks. In September, new-vehicle inventory was down nearly 60% from 2020. Sales suffered accordingly. While certainly the central story, inventory was not the only story last quarter. As the…
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U.S. auto sales
Market Insights
Data Point
4 min read
10 Takeaways from U.S. Auto Sales: Q2 2021
07/09/2021
It might be fair to call spring 2021 a full-on sales frenzy for autos, pushed by pent-up demand, government stimulus and tax returns, and a general feeling that the global pandemic, in the U.S. at least, was moving into the rearview mirror. The quarter began with the seasonally adjusted annual rate (SAAR) of sales hitting 18.8 million in April, among the best months on record, and…
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U.S. auto sales
Market Insights
Data Point
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