ATLANTA (Jan. 9, 2023) – Following record increases in 2021, the Manheim Used Vehicle Value Index (MUVVI) ended 2022 at 219.3, a slight increase from November due to the seasonal adjustment, but down 14.9% year over year. This was the largest decline within one year in the series’ history. On the non-adjusted side, the price … Continued
Updated, Jan. 4, 2023 – While sales in December likely came in slightly higher than the initial Cox Automotive forecast, and above year-ago levels, the bottom-line result will hardly be cheered as a success. In fact, December sales continue to demonstrate a softening of retail demand, although demand has not collapsed. Sales in December, and … Continued
ATLANTA, Dec. 19, 2022 – With the start of the New Year just weeks away, the Cox Automotive Industry Insights team offers its expectations for the U.S. automotive market in 2023. By nearly all measures, 2022 was a difficult year for both the industry and the consumer, marked by historically low new-vehicle inventories, high prices, … Continued
ATLANTA, Dec. 7, 2022 – U.S. automobile dealer sentiment in the fourth quarter of 2022 dropped to the lowest level since the start of the COVID-19 pandemic, according to the Cox Automotive Dealer Sentiment Index (CADSI). At 43, the current market index is below the threshold of 50, indicating that more dealers view the current auto market … Continued
Updated, Dec. 1, 2022 – When considering the new-vehicle market in the U.S., the Cox Automotive Economics and Industry Insights team has been trying to balance two distinct market realities: supply and demand. For much of 2022, tight inventory (supply) has been an anchor holding back the market. And indeed, with inventory historically low, new-vehicle sales … Continued
CBT News, Nov. 16, 2022 – New-vehicle sales volume has been stuck around the 1.1 million mark for several months. On today’s Inside Automotive, Charlie Chesbrough, senior economist and senior director of industry automotive of Cox Automotive, shares his take on how the U.S auto industry fared in October of 2022. “The October sales were a … Continued
UPDATED, Nov. 2, 2022 – Spurred in part by improving inventory, early indications of new-vehicle sales in October suggest sales volumes will come in above the Cox Automotive forecast. Gains from October 2021 were all but guaranteed, as last October was a historically bad month for new-vehicle sales. But reports from Hyundai, Kia, Toyota and … Continued
ATLANTA, Oct. 10, 2022 – Cox Automotive, in partnership with the National Association of Minority Automobile Dealers (NAMAD), awarded two Rising Star Awards at the Annual NAMAD Conference in Miami on Friday, October 7. The 2022 award recipients are Jarryd Carver, chief executive officer, Winners Circle Automotive Group, headquartered in Hampton, Virginia, and Michael Lee, … Continued
ATLANTA (Oct. 7, 2022) – Wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) decreased 3.0% in September from August. This brought the Manheim Used Vehicle Value Index to 204.5, down 0.1% from a year ago. The non-adjusted price change declined 2.1% in September, bringing it to a decrease of 2.3% year over … Continued
ATLANTA, Oct. 5, 2022 – While vehicle electrification continues to make strides, the lingering effects of the pandemic, the soaring cost of raw materials and geopolitical challenges have contributed to supply chain disruptions that have slowed widespread electric vehicles (EV) growth in the U.S. This perfect storm of bottlenecks outlined in Cox Automotive Mobility’s latest EV … Continued