- While dealers are more positive about the current market than they were in Q4 of 2017, their expectations for the next quarter (Q2 2018) are up substantially.
- The Current Market Index—how dealers feel about the market today—came in at 49, up 3 points from Q4 2017. The score indicates slightly more dealers feel that the current market is weak compared to the number who feel that the current market is strong. The index for the next three months was 70, indicating substantially more dealers expect conditions to be strong in the future compared to those who believe conditions will be weak.
- Other significant improvements include a decline in pressure to lower prices, an increase in dealers’ ability to get credit, and increases in new- and used-vehicle inventory levels
Derived from a quarterly survey that Cox Automotive issues to a representative sample of franchise and independent auto dealers, the Cox Automotive Dealer Sentiment Index measures dealer perceptions of current retail auto sales and sales expectations for the next three months as “strong,” “average” or “weak.” The survey also asks dealers to rate new-car sales and used-car sales separately along with a variety of key drivers including consumer traffic. Responses are used to calculate an index where any number over 50 indicates that more dealers view conditions as strong rather than weak.
To see the highlights from the Cox Automotive Dealer Sentiment Index for first quarter 2018, download the full report below.
To read the press release, click here.
If you are interested in speaking with Cox Automotive Chief Economist Jonathan Smoke or need additional study details, contact Mark Schirmer, senior manager, public relations, Cox Automotive, at firstname.lastname@example.org or 734 883 6346.