ATLANTA, June 27, 2023 – Despite growing interest, a gap exists between consumer enthusiasm for electric vehicles (EVs) and their actual purchasing decisions, according to new research released today by Cox Automotive. The 2023 Path to EV Adoption: Consumer and Dealer Perspectives study also reveals a lack of EV readiness among U.S. automotive dealers regarding … Continued
ATLANTA, June 7, 2023 – Overall dealer sentiment in the U.S. improved slightly in Q2 2023, according to the quarterly Cox Automotive Dealer Sentiment Index released today. The current market index is now at 45, up from 43 in Q1 but still below the threshold of 50, indicating that more dealers see the current auto … Continued
Updated, June 2, 2023 – Initial estimates of new-vehicle sales in May indeed suggest that year-over-year volume growth was even stronger than our forecast of 20.3%. New-vehicle inventory was at a two-year high heading into the month, and some automakers were beginning to turn up the volume on incentives. As expected, pent-up demand and improved … Continued
ATLANTA, May 15, 2023 – According to consumer research from Cox Automotive, automakers may face challenges if they expect to generate significant revenue from subscription-type features, also known as Features on Demand (FoD). In a new study titled “Software Monetization: The Emergence of Vehicle Features on Demand,” the Cox Automotive Research and Market Intelligence … Continued
CarDealershipGuy Podcast, May 12, 2023 — Cox Automotive Chief Economist Jonathan Smoke joins CarDealershipGuy for a wide-ranging discussion on the automotive industry covering inventory, pricing and how the pandemic has permanently transformed the industry and more. Here’s the rundown:
CBT News, April 26, 2023 – As the industry adapts to an unfamiliar automotive landscape, what new challenges will dealers need to face? On this episode of Inside Automotive, Brian Finkelmeyer, senior director of new car solutions at Cox Automotive, joins anchor Jim Fitzpatrick to discuss the most important takeaways from the last three months … Continued
Updated, May 3, 2023 – Fed by higher inventory levels and a healthy dose of fleet deliveries, April new-vehicle sales likely finished higher than the Cox Automotive forecast. As noted below, our team was expecting the annual sales pace in April to hit 15.1 million – a sizable increase from April 2022 – and initial … Continued
The Manheim Used Vehicle Value Index (MUVVI) increased 8.6% in the first quarter, ending March at 238.1. The MUVVI has risen for four consecutive months after experiencing the largest decline within one year in the series’ history in 2022. Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) increased 1.5% in March from … Continued
ATLANTA (April 7, 2023) – According to data assembled by Cox Automotive, the world’s largest automotive services and technology provider, the market for used electric vehicles (EVs) in the U.S. is beginning to accelerate rapidly as more used EVs become available and buyers snap them up. The rapid growth of new EV sales in the … Continued
CNBC, March 26, 2023 – Over 300 million electric vehicles are expected to be on the world’s roads by 2030, according to the International Energy Agency. By 2050, the National Renewable Energy Laboratory expects the demand for graphite, lithium and cobalt, all critical minerals in EV batteries, to increase by 500%. It estimates that the … Continued