UPDATED August 4, 2021 – The automotive sales pace in July slowed substantially, as tight vehicle supply severely limited sales at some automakers. The Cox Automotive Industry Insight team had forecasted slowing sales, as available inventory at the start of July was at the lowest point in memory. Days of supply had dropped to 29, according to … Continued
The Philadelphia Inquirer, July 26, 2021 – Anybody shopping now for a vehicle knows it is a seller’s market. A shortage of new cars has rippled out and created a frenzy in the used-car market. The prices of some used vehicles have soared above the original sticker price. It’s crazy. “We’ve never seen anything like … Continued
CBT News, July 26, 2021 – Penske Automotive Group and Cox Automotive have debuted an industry-first automated digital retailing platform for vehicle sales. Joining CBT News today to discuss this development is Marianne Johnson, Chief Product Officer at Cox Automotive, alongside Mike Barrington, who is the Senior Vice President and Business Leader of Digital Commerce … Continued
IRVINE, Calif., July 26, 2021 – While the U.S. automotive market has experienced growth this year in nearly every vehicle segment, Kelley Blue Book today reports no segment is growing more quickly and relentlessly than electrified vehicles – defined as the combined total of electric vehicles (EVs), hybrids and plug-in hybrids. New-vehicle demand is up across … Continued
BLOOMFIELD HILLS, MI and ATLANTA, GA (July 22, 2021) – Penske Automotive Group, Inc., (NYSE:PAG) and Cox Automotive, Inc. (“CAI”), announced today they have jointly developed a transformational, fully automated technology platform to enable the online retail sale of used vehicles. The automated online buying platform, which is owned exclusively by Cox Automotive, allows consumers … Continued
ATLANTA, July 8, 2021 – Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 1.3% month over month in June, after record highs for four consecutive months. This brought the Manheim Used Vehicle Value Index to 200.4, a 34.3% increase from a year ago and a 1.3% decrease from a high of … Continued
Automotive News Daily Drive Podcast, July 1, 2021 – Cox Automotive Chief Economist Jonathan Smoke joins Jamie Butters, chief content officer at Automotive News, for an episode of the Daily Drive podcast. On this episode, Butters and Smoke discuss auto sales, looking at the entire year, and the supply/demand imbalance as well as the connections and … Continued
ATLANTA, June 28, 2021 – June U.S. new-vehicle sales are expected to showcase a market still well above last year’s levels but one that is slowing after a frenzied spring buying season. Vehicle sales in June are forecast by Cox Automotive to fall to a seasonally adjusted annual rate (SAAR) of 16.4 million, up from … Continued
Auto Remarketing Podcast, June 25, 2021 – Nick Zulovich, senior editor, Auto Fin Journal, SubPrime Auto Finance News and BHPH Report, went straight to the orchestrator of the 2021 Cox Automotive Dealership Staffing Study for this episode of the Auto Remarketing Podcast. Cox Automotive senior industry intelligence manager Angela Drake shared additional insight about the … Continued
CBT News, June 24, 2021 – Recently, Cox Automotive published its quarterly Cox Automotive Dealer Sentiment Index for Q2. The index measures dealer sales expectations and how they perceive current auto retail trends over the next 90 days. Jonathan Smoke, Chief Economist for Cox Automotive joined Jim Fitzpatrick on CBT News to discuss the findings of this latest … Continued