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
UPDATED, Oct. 3, 2022 – With the books closing on third-quarter new-vehicle sales, the market indeed—as forecast—is stuck in a low gear. At a brand level, sales results are markedly inconsistent. Hyundai and Kia are confirming record results; General Motors and Toyota finished the quarter with strong numbers. Others, including Buick, Nissan and Honda, continue to struggle. … Continued
ATLANTA, Sept. 27, 2022 – As part of Cox Enterprises’ goal to dramatically reduce its carbon, water and waste impact on the environment by 2034, Cox Automotive Mobility is making key advancements in fleet electrification to build a better future for the next generation. Cox Automotive Mobility’s focus on EV development includes the opening of an … Continued
Auto Marketing, Sept. 9, 2022 – During the NAAA annual convention, Cherokee Media Group senior editor Joe Overby shared a conversation with two executives from Cox Automotive Inventory Solutions — Dana Lowenthal and Patrick Brennan. Among other topics, they discussed how dealers are leveraging auctions today, whether they’re still walking the lanes or going online … Continued
ATLANTA, Sept. 8, 2022 – U.S. automobile dealer sentiment in Q3 2022 reflects that more dealers view the current market as weak than strong. Now, at 49, the current market index is below the threshold of 50 in the Cox Automotive Dealer Sentiment Index (CADSI), marking the fifth quarter-over-quarter decline in overall market sentiment. The index is … Continued
Today, each consumer chooses their own, unique path to vehicle purchase and they expect personalization every step of the way. Open the door to more leads, more deals, and higher profits with a plan for all the possible ways shoppers may interact with your dealership, both online and offline. Use this guide to prepare for individualized … Continued