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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
Can you hear that chorus of retailers singing, “It’s the most wonderful time of the year”? Thanksgiving is a couple of days away, but we are already seeing it: Christmas trees at Lowe’s, Holiday Deals on Amazon, and plenty of television ads with Santa leading a fleet of white cars with red bows – as … Continued
Daily new COVID-19 cases continue an upward trend that is producing records. We saw more than 186,000 on Thursday. At this pace, we will likely see 200,000 today or tomorrow. Hospitalizations are also at new record highs, and daily deaths are rising. Consumer sentiment plummets: This third and bigger wave of COVID-19 is taking a … Continued
We have observed auto loan credit loosening this fall, and access to all types of auto loans continued to improve in October. However, access remains tighter than year-ago and pre-pandemic availability levels. Credit access for used vehicles sold by independent dealers improved the most in October. On a year-over-year basis, all loan types are tighter, … Continued
Used-vehicle inventory, which had been rising modestly in recent weeks, accelerated more quickly to open the month of November, and the average listing price set a new record, according to a Cox Automotive analysis of vAuto Available Inventory data. As of Nov. 2, the total U.S. supply of unsold used vehicles stood at 2.56 million, … Continued
Shopping for luxury SUVs soared to new heights in the third quarter, a trend likely to continue with the onslaught of upcoming new models, according to the Kelley Blue Book Brand Watch™ report for the luxury segment. The Brand Watch Report is a consumer perception survey that also weaves in consumer shopping behavior to determine … 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
Affordability has been an important issue for housing for a decade now. When I left real estate and joined Cox Automotive in early 2017, affordability was becoming a worry in the auto market as well. In my nearly four years following the auto industry, I’ve watched transaction prices climb relentlessly and just last month hit … 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 November and general information on segment performance for the first … Continued
Daily new COVID-19 cases continue an upward trend that is producing records. The U.S. saw more than 160,000 cases last Thursday alone. At this pace, the U.S. will hit 200,000 new cases a day before Thanksgiving. Hospitalizations are also at new records. That has led state and local governments to impose restrictions on activity and … Continued