UPDATED, Aug. 3, 2022 – The Cox Automotive Industry Insights team was forecasting new-vehicle sales in July to trend closely to the results seen in June, as new-vehicle inventory levels are holding steady at approximately 1.1 million units, a days’ supply in the mid-30s. As noted in the forecast release below, “Auto sales are expected … Continued
CBT News, July 25, 2022 – As the automotive retail industry settles into the third quarter, analysts are reviewing mid-year sales data and updating their forecasts for the remainder of 2022. Today on Inside Automotive, Jim Fitzpatrick is pleased to welcome back Charlie Chesbrough, Senior Economist and Senior Director of Industry Insights at Cox Automotive to … Continued
ATLANTA (July 21, 2022) – Cox Automotive today announced the acquisition of Trudell, expanding its offering within the medium and heavy-duty fleet parts and service, as well as adding direct parts sales and semi-trailer sales to the Cox Automotive Mobility Fleet Services portfolio. The acquisition represents an entry into a new adjacency for Cox Automotive Mobility Fleet … Continued
ATLANTA (July 14, 2022) – As Cox Automotive continues its mission to help clients transform our industry, Lori Wittman, President of Cox Automotive Retail Solutions, has made several key changes to her leadership team. Mandi Fang becomes the new Senior Vice President of Client Operations and Tracy Noonan Fred becomes the new Senior Vice President of … Continued
ATLANTA (July 8, 2022) – Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 1.3% in June from May. This brought the Manheim Used Vehicle Value Index to 219.9, up 9.7% from a year ago. The non-adjusted price change in June decreased 1.8% compared to May. The drop in June left the … Continued
UPDATED, July 5, 2022 – The Cox Automotive Industry Insights team had expected a year-over-year decline in June auto sales. The actual decline, however, was even greater than expected. Sales last month came in at approximately 1.125 million; the forecast was for 1.2 million. Some declines were particularly notable, with large year-over-year declines at Buick, … Continued
CBT News, June 15, 2022 – Cox Automotive recently released its Q2 Dealer Sentiment Index, which provides a current view of dealer sentiment and looks ahead to the next 90 days. The study reveals that COVID concerns are mostly in the past, but inflation, high costs, and low inventory continue to challenge dealers. Jim Fitzpatrick on … Continued
ATLANTA, June 10, 2022 – U.S. automobile dealer sentiment in the second quarter of 2022 softened as U.S. auto dealers’ attention turned to inflation, high costs and tight inventory, marking the fourth straight quarter-over-quarter decline in market sentiment. The current market index peaked at 67 in Q2 2021 and has been trending downward since. Still, at 54, … Continued
UPDATED, June 2, 2022 – May new-vehicle sales came in lower than the Cox Automotive forecast issued last week. Our team was expecting a year-over-year volume decline of roughly 28%; results indicate a drop of more than 29%. Auto sales in May are traditionally quite strong, spurred in part by the long Memorial Day Weekend. … Continued
CBT News, May 23, 2022 – Recently, Cox Automotive published the Q1 Kelley Blue Book Brand Watch Report, covering the non-luxury, luxury, and electrified segments. Joining anchor Jim Fitzpatrick on this edition of Inside Automotive is Vanessa Ton, Senior Research Manager at Cox Automotive, who discusses the study and some of its key findings.