Sleeping on October’s U.S vehicle sales numbers has economists and insiders tossing and turning about what’s really happening in the marketplace. On one hand it all makes sense. The sharp decline in passenger car sales was enough to offset booming demand for pickup trucks and SUVs to edge overall industry volumes down just 0.4% last … Continued
America’s used car business is facing a mid-life crisis: dealers are selling tons of late-model cars and a lot of dinosaurs, but sales of autos in their middle years are declining. And that’s bad news for some car salesmen. Independent dealers are showing up at auctions looking for their bread and butter: the six-year-old vehicle … Continued
U.S. light-vehicle sales, behind strong light-truck demand and elevated incentives, edged up 0.4 percent in October, signaling the second-half slowdown that began in July is moderating. The seasonally adjusted, annualized sales rate for October came in at 17.59 million, the highest of the year, and well above forecasts for 17.3 million, but down from 17.9 … Continued
ATLANTA, Oct. 26, 2018 – According to a forecast released today by Cox Automotive, the new-car sales pace in October is expected to fall to 17.1 million units, a decrease from September’s robust 17.4 million level. Sales in October are forecast to remain consistent with the market’s 2018 overall average. Although there is one more … Continued
Tomorrow, Wednesday, Oct. 24, after the market close, both Ford Motor Company and Tesla will report Q3 2018 financial results, kicking off an important earning season for the domestic auto makers. FCA and General Motors will report Q3 numbers the following week. Ahead of the earnings, Cox Automotive’s Industry Insights team pulled together a quick … Continued
ATLANTA, Oct. 22, 2018 – Auto dealers and consumers are more closely aligned on the future of mobility than many industry experts might imagine with both expecting significant reductions in personal vehicle ownership. In fact, dealers are predicting an even sharper decline in ownership than consumers1 in the next five years (28 percent versus 18 … Continued
Hurricane Michael is hitting the Florida Panhandle today as a strong Category 4 hurricane. Reports from the National Hurricane Center indicate maximum sustained winds of 145 mph—a major weather event. Looking at the area to be most affected by the storm, Jonathan Smoke and the Cox Automotive Industry Insights team are estimating that vehicle loss … Continued
ATLANTA, Oct. 5, 2018 – Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased slightly – 0.14 percent – month-over-month in September. This brought the Manheim Used Vehicle Value Index to 139.9, which was a 3.7 percent increase from a year ago and a record high for the Index. Looking at trends … Continued
Today General Motors and Cruise, its self-driving car division, announced plans to work with Honda to develop and manufacture purpose-built autonomous vehicles. While no specific timeline for an on-the-road vehicle was provided, the partnership should prove to be a force in the pursuit of the future of mobility. Michelle Krebs, Brian Moody and Zohaib Rahim … Continued
Beating an important deadline, Canada last evening agreed to a proposed deal that would ultimately replace the North American Free Trade Agreement. While details of the new United States-Mexico-Canada Agreement – USMCA – are yet to be finalized, the new guidelines for trade across North America is an important milestone for the auto industry. The … Continued