Automotive News, Aug. 4, 2020 – Toyota Motor Corp., American Honda and Kia in July posted their smallest U.S. sales declines since the coronavirus outbreak took hold and four brands chalked up increases, signaling the market continues to recover from the pandemic. Volume fell 19 percent at Toyota Motor, 11 percent at America Honda and … Continued
Cox Enterprises has named Steve Rowley as the new president of Cox Automotive, effective Aug. 3. Cox Automotive includes powerhouse brands Autotrader®, Kelley Blue Book®, Dealertrack®, vAuto® and Manheim®. He takes over for President and CEO Sandy Schwartz, who moves to a role as CEO of the Cox Family Office. Keith Holmes, senior vice president … Continued
ATLANTA, July 28, 2020 – The vehicle market is expected to show modest month-over-month improvement in July, but the growing number of COVID-19 cases and overall economic uncertainty continue to stifle a more robust recovery. According to a forecast released today by Cox Automotive, the seasonally adjusted annual rate (SAAR) of auto sales in July … Continued
Automotive News, July 13, 2020 – Even with fleet sales still blunted by the lingering effects of COVID-19 on daily rental-car companies and most production in North America recovering, auto industry inventories continued to tighten in June, especially in light trucks and among certain automakers. Cox Automotive estimates that total U.S. inventory dropped to 2.55 … Continued
Automotive News, July 13, 2020 – As new-vehicle inventory at dealerships wanes across the U.S., more shoppers are turning to used cars, leading to record-high auction prices as dealers scramble to replenish their stocks. For the wholesale market, it marks a quick snap back from a steep decline in the spring. And while dealers now have no … Continued
CBT News, July 10, 2020 – Cautious optimism is the sentiment many dealers are feeling as the auto retail industry settles into Q3. After strong showings for sales, considering the challenges, in May and June, some experts say that the boom from pent up demand will slowly fade. Others, however, are predicting an aggressive recovery … Continued
ATLANTA (July 8, 2020) – Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 8.95% month over month in June. This brought the Manheim Used Vehicle Value Index to 149.3, a 6.3% increase from a year ago and a new record-high for the Index. Manheim Market Report (MMR) prices improved over … Continued
CBT News, July 1, 2020 — Dealers are facing a unique situation in many markets, where consumer demand is actually higher than supply according to Cox Automotive’s Bureau of Economic Analysis and Wards Automotive data. In fact, in this past May, non-fleet sales increased 63 percent after bottoming out in April. Brian Finkelmeyer, senior director … Continued
WardsAuto, June 29, 2020 – The U.S. consumer and economy are returning to some semblance of normalcy, but the new-car business is likely to be anything but normal for the foreseeable future. Dealers are facing a rare situation in many markets: Consumer demand is higher than supply. Online shopping metrics are off the charts across various … Continued
ATLANTA, June 26, 2020 – The COVID virus and the resulting economic recession continue to negatively impact the auto industry, but June is expected to be another small step “back to normal.” According to a forecast released today by Cox Automotive, the seasonally adjusted annual rate (SAAR) of auto sales in June will finish at 12.6 million, … Continued