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U.S. New-Vehicle Shoppers Expect Limited Choices, High Prices

ATLANTA, May 11, 2021 – New consumer research conducted by Kelley Blue Book indicates consumers in-market for a new automobile are expecting to be greeted by limited choices and high prices. The research, which involved surveying consumers during the final full week of April, found that three out of four in-market shoppers—those likely to purchase within a … Continued

3 Straight Record Months in Manheim Used Vehicle Value Index

Auto Remarketing, May 7, 2021 – Make that three straight months of records for the Manheim Used Vehicle Value Index. The Cox Automotive business unit’s measure of wholesale car prices came in at 194.0 for April, which beat year-ago figures by 54.3% and was nearly a 15-point jump from the prior record set a month … Continued

It’s the Best Time Ever to Sell a Used Car — as Long as You Don’t Need to Buy One

Los Angeles Times, May 4, 2021 – Clarissa Iliff logged about 78,000 miles on her trusty 2015 Ford Focus before a looming new car purchase rendered it expendable earlier this year.  Trying to unload it, the Orange resident took the Ford to a local car dealership, which offered her $4,850 for the sedan in late … Continued

Rental Companies Buy Up Used Cars as Microchip Crisis Gets Worse

Bloomberg, May 3, 2021 – The semiconductor shortage has slashed vehicle production so much that rental-car companies can’t get the new cars they need, so they have resorted to buying used vehicles at auction. This is uncharted territory for the likes of Hretz Global Holdings Inc. and Enterprise Holdings Inc., which have made their profits … Continued

Used Car Dealer Podcast Episode 37: Nathan Fox on Used Car Inventory and Merchandising

April 29, 2021, Used Car Dealer Podcast – In this episode of the Used Car Dealer podcast, Zach Klempf interviews Nathan Fox of Cox Automotive who is the senior director of business development for the Cox Automotive Inventory Management Solutions brands which include vAuto and Kelley Blue Book Instant Cash Offer. In this role, Nathan … Continued

Cox Automotive April Forecast: Hot New-Vehicle Sales Pace Expected to Continue

ATLANTA, April 28, 2021 – April U.S. auto sales, when announced next week, are expected to reveal a very hot new-vehicle market. The April sales pace is expected to finish near 16.5 million, which is down from last month’s robust 17.7 million level but still a healthy pace for the industry. Sales in March were especially … Continued

Have Strong Q1 Auto Sales Set the Stage for the Rest of 2021? – Charlie Chesbrough, Cox Automotive

On CBT News, host Jim Fitzpatrick is joined by Charlie Chesbrough, senior economist and senior director of Industry Insights at Cox Automotive. Chesbrough joins the show to recap results from the first quarter of 2021 and provide insight on what car dealers can expect for the rest of the year. To gain a true understanding … Continued

Sales of Electrified Vehicles Jump Up 81% in the First Quarter of 2021

ATLANTA, April 19, 2021 – According to an analysis of the U.S. auto market by Cox Automotive and Kelley Blue Book, sales growth of both electric and hybrid vehicles outpaced overall market performance in the first quarter of 2021. Electrified vehicles – automobiles featuring large battery packs and electric motors in the propulsion system – accounted for 7.8% of the … Continued

Hot Auto Market Sends Wholesale Vehicle Prices Soaring to Record High

ATLANTA (April 7, 2021) – Wholesale used-vehicle prices on a mix-, mileage-, and seasonally-adjusted basis increased 5.87% month over month in March. This brought the Manheim Used Vehicle Value Index to 179.2, a 26.2% increase from a year ago and a record high for the Index. Wholesale prices – the prices automobile dealers are paying to … Continued

DAILY DRIVE PODCAST: Forecast: A mostly sunny spring for the industry

Automotive News, April 1, 2021 – Daily Drive is a daily podcast that provides updates during the coronavirus outbreak. Automotive News Publisher Jason Stein speaks with industry experts, insiders and Automotive News reporters about how the coronavirus outbreak is impacting and reshaping the automotive industry. Cox Automotive Chief Economist Jonathan Smoke predicts there will be … Continued