ATLANTA, Nov. 3, 2020 – Cox Automotive, in partnership with the National Association of Minority Automotive Dealers (NAMAD), awarded its Rising Star Award to Carlos Sandoval, partner and fixed operations director at Bartow Ford located in Bartow, Fla., among the largest volume Ford dealers in the nation and a 22-time President’s Award Winner. Sandoval was … Continued
ATLANTA, Oct. 28, 2020 – U.S. auto sales for October are expected to show a still recovering market with the sales pace rising for the sixth straight month since April’s historic low. The seasonally adjusted annual rate (SAAR) of sales is expected to finish near 16.4 million, up slightly from September’s surprisingly strong 16.3 million … Continued
CBT News, Oct. 23, 2020 – While dealers struggle with new-vehicle inventory, used-vehicle sales have become an emphasis for many dealers. Despite this, certified pre-owned sales have struggled since the beginning of the COVID-19 pandemic. CPO sales have been on the decline ever since stores were forced to change their daily operations, and they remain … Continued
Bloomberg, by Keith Naughton, Oct. 20, 2020 – Under the Trump administration, few industries have been singled out for scorn and threats from the White House as much as automakers. But even if President Donald Trump’s re-election bid falls short in November, American car companies have a much bigger constituent to answer to: their own … Continued
Automotive News, Oct. 14, 2020 – Unprecedented times brought on by the coronavirus pandemic called for unprecedented support. As the positive impacts of the stimulus fade, the automotive finance industry — among others — is calling for another round. The swift actions taken at the onset of the pandemic through the passage of the CARES … Continued
Used Car Dealer Podcast, Oct. 12, 2020 – In episode #15, Zach Klempf has an in-depth interview with Senior Economist at Cox Automotive Charlie Chesbrough, and they discuss hot topics like: 1) What does an economist do and how does one become an economist at Cox Automotive 2) Charlie’s perspective on the economy from March … Continued
Auto Remarketing, Oct. 8, 2020 – There is likely to be 36.1 million used-vehicle sales this year, according to the latest forecast from Cox Automotive. But that projection, and the company’s forecast for new-car sales, could hinge on whether another federal stimulus package arrives.To better illustrate that dynamic during Wednesday’s quarterly Manheim Used Vehicle Value … Continued
ATLANTA, Oct. 7, 2020 – Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 1.58% month over month in September, the first month-over-month drop in wholesale values since May. The Manheim Used Vehicle Value Index for September was 161.2, a 15.2% increase from a year ago. Manheim Market Report (MMR) prices declined … Continued
Automotive News, Oct. 5, 2020 – After nine straight years of setting records, sales of certified pre-owned vehicles are set to decline in 2020. Blame the coronavirus pandemic. CPO sales took a hit in the spring when many dealerships were shut down for several weeks and shoppers stayed home on government orders. While the numbers … Continued
Reuters, Sept. 28, 2020 – U.S. automakers are facing a problem most forecasters and industry executives did not expect when the pandemic slammed the economy this spring: Strong demand and lean inventories at dealerships. Automakers report September U.S. sales on Thursday, and forecasters expect the annualized sales pace will exceed the August rate of 15.2 … Continued