No one should live their life in fear, simply because of the color of their skin.
OUR FULL STATEMENT x
Jeff Bezos is fond of declaring it’s still “Day 1” for Amazon. Staying in “Day 1” means you can do more for your customers — it requires you to experiment patiently, accept failures and double down when you see customer delight. Why is this relevant? In a July 13 editorial, “Subscriptions don’t pay off but … Continued
The number of daily new COVID-19 cases is increasing again, due to lax behavior over the Labor Day holiday weekend, much like we saw after Memorial Day. Momentum in several parts of the economy appears to be stalling. Retail sales barely rise: Retail sales barely increased in aggregate in August, and the gain was assisted … Continued
Given the current turbulence in the automotive marketplace, the Cox Automotive Economic & Industry Insights team is publishing its mid-month view of the wholesale market, including wholesale prices. The posted material provides commentary and an updated look at the Manheim Used Vehicle Value Index for September and general information on segment performance for the first … Continued
Today’s Fed announcement was not about current rate levels, which remain near zero, but about expectations for the economy, guidance on rates long term, and elaboration on what it will take to shift away from low rates when the time comes. A key phrase in their announcement was “…the Committee will aim to achieve inflation … Continued
Used-vehicle prices keep rising while the inventory of unsold used vehicles stabilizes and even slightly improves in contrast to new-vehicle inventory that is falling, according to a Cox Automotive analysis of vAuto Available Inventory data. As of the start of this week, the total U.S. supply of unsold used vehicles stood at 2.23 million, edging … Continued
Our Chief Economist Jonathan Smoke joins us once again from his home studio in Atlanta, GA, with the latest on the impacts of COVID-19 on the automotive industry. The latest on COVID-19’s nationwide impact Continuing jobless claims and impacts by state Consumer sentiment in the U.S. and in the largest DMAs Cox Automotive consumer survey … Continued
Sales of certified pre-owned (CPO) vehicles decreased 9% year over year in August and were down 6% month over month compared to July. For August, 238,498 CPO units were sold. CPO sales were on the rise for the past two months. Reflecting huge decreases in March and April and the impact of COVID-19, CPO sales … Continued
Welcome to Dealer Forward: Reimagining Automotive Retail, a panel discussion that focuses on building resilience in three key auto retail areas – marketing, dealership performance and fixed operations. In this week’s episode, Wayne Pastore, general manager of Dealer.com and vice president of operations for dealer marketing, at Cox Automotive, discusses tactical approaches to embrace shifting consumer … Continued
The trends for COVID-19 and consumer sentiment are encouraging, but the economy and the jobs recovery seem to have lost momentum from a stronger bounce back this spring and summer. The peak demand phase in the used car market seems to be behind us as August sales softened and prices are starting to come down. … Continued
The supply of new vehicles is in freefall as the inventory of unsold new vehicles fell again in August with luxury inventory plummeting, according to a Cox Automotive analysis of vAuto Available Inventory data. The total U.S. supply of unsold new vehicles stood at 2.26 million units as of Aug. 31, down from 2.33 million … Continued