ATLANTA (Oct. 7, 2019) – Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 1.04% month over month in September. This brought the Manheim Used Vehicle Value Index to 139.9, flat from a year ago and off the record high for the Index. Weekly Manheim Market Report (MMR) prices showed increasing depreciation … Continued
Auto Remarketing , Oct. 4, 2019 — The automotive industry is experiencing a used-car renaissance with consumers heavily favoring used inventory over new for their vehicle purchases. While many factors are in place, this shift could primarily be attributed to used vehicle quality being better than ever, while new car prices continue to skyrocket. In fact, … Continued
Automotive News, Sept. 30, 2019 — Rivian, the electric- truck startup that keeps attracting support from the industry establishment, is looking to offer a subscription service as part of its factory-direct retail model when it launches next year, its CEO said here last week. Subscriptions have emerged as a new model in the luxury sector to … Continued
Forbes, September 27, 2019 — Facing threats including shaky consumer confidence, and potential new tariffs on imported autos and auto parts, it looks like U.S. auto sales will be down in the fourth quarter, down for 2019 overall, and down again next year, according to Cox Automotive. One wild card: Automakers could resort to “fire sale” … Continued
Used Car News, September 26, 2019 — A new study from Cox Automotive shows that 72 percent of dealers believe automation and artificial intelligence (AI) technology will empower employees and improve customer satisfaction, without reducing staff. The Cox Automotive Car Buyer Journey also shows 67 percent of consumers believe personalization technology will improve the car-buying process. … Continued
ATLANTA, Sept. 26, 2019 – Cox Automotive is forecasting September U.S. new-vehicle sales volume to finish at 1.25 million, falling nearly 14% from last September, or close to 200,000 units. With five fewer selling days, the forecast volume drop is close to 400,000 units compared to August. Although sales volume is certain to decline in … Continued
ATLANTA, Sept. 25, 2019 – Auto dealers and consumers agree that personalization enabled by automation and artificial intelligence (AI) has the potential to greatly improve the car-buying process and the overall ownership experience. Artificial intelligence – advanced data techniques that allow computer systems to make predictions, make decisions and work more like the human brain … Continued
SubPrime News, September 23, 2019 — While the Federal Reserve cutting interest rates twice in less than two months certainly has generated plenty of attention, automotive experts aren’t quite so sure the actions will directly lead to immediate upticks in vehicle deliveries and loan originations. The chief economist at Cox Automotive shared his perspective following the Federal Open Market Committee … Continued
ATLANTA, Sept. 16, 2019 – According to the Q3 2019 Cox Automotive Dealer Sentiment Index (CADSI) released today, U.S. automobile dealers view the current market as negative, with an index score of 48. The slight decrease from Q2’s score of 49 was not statistically significant. The index reading of 48 indicates that slightly more dealers … Continued
PLYMOUTH, Mich., Sept. 10, 2019 – Rivian today announced an equity investment of $350 million from global automotive services company Cox Automotive. In addition to the investment, the companies will explore partnership opportunities in digital retailing, service operations and logistics. “We are building a Rivian ownership experience that matches the care and consideration that go … Continued