ATLANTA, Jan. 26, 2018 – New-vehicle sales are expected to increase 1.0 percent year-over-year to a total of 1.15 million units in January, resulting in an estimated 17.1 million seasonally adjusted annual rate (SAAR), according to Cox Automotive. “January is always a difficult month to forecast because it follows the year-end holiday sales frenzy, but … Continued
Cox Automotive economists are expecting approximately 2.7 million certified pre-owned vehicle sales in 2018, and if that comes to fruition, it will be the eighth straight year of record CPO sales. But the acceleration in certified sales is not what it has been in prior years amid what is a slowdown in growth on the non-luxury side of … Continued
DETROIT — The auto industry counts vehicle sales each month as a gauge of consumers’ economic health, but tracking vehicle buyers’ monthly payments may provide a better assessment, said Jonathan Smoke, chief economist at Cox Automotive. Moreover, the importance of the payment can be seen in the sales process, he said: Customers are frustrated when … Continued
DETROIT — Rising interest rates and tightening credit are reasons for concern, but shouldn’t cause new-vehicle sales to tumble, speakers at the Automotive News World Congress said. Tightening credit is the most important issue to watch, said Jonathan Smoke, chief economist at Cox Automotive, adding that U.S. car dealers will sell more vehicles this year, … Continued
DETROIT — Dealers must streamline the in-dealership car-buying experience and change to allow web-savvy consumers to complete one or more steps of the purchase process online, according to Cox Automotive’s “Future of Digital Retail Study.” The study was released Jan. 14 as part of a press briefing just prior to the opening of the North … Continued
DETROIT, Jan. 15, 2018 – Cox Automotive released the findings of its Future of Digital Retail Study, with results showing that the current dealership model needs to change with consumer preferences, but that the dealership remains central to car buying. While most consumers prefer completing at least one step of the car buying process online, … Continued
Midsize cars remain popular in at least one place: the used-car auction. But even there, demand has begun to fade for the segment that dominated the industry for decades. Midsize cars were the only used-vehicle category in which wholesale prices fell in the second half of 2017 — down 0.7 percent. Unlike other segments, whose … Continued
DETROIT – Vehicle sales this year aren’t forecasted to match or exceed 2017’s, but expect to see consumers buying amenity-laden cars and trucks with higher sticker prices. So says Jonathan Smoke, chief economist for Cox Automotive, owner of automotive marketplace digital brands such as Autotrader, Kelley Blue Book and Dealer.com. “This will be the year … Continued
ATLANTA, Jan. 9, 2018 – Used vehicle value pricing continues to soften following last year’s active hurricane season. The Manheim Used Vehicle Value Index – a measure of wholesale prices adjusted for mix, mileage and season – came to a reading of 132.0 in December, which was a 5.6 percent increase from a year ago but the … Continued
U.S. used-vehicle sales will rise in 2018 on swelling off-lease returns, while new-vehicle volume will decline modestly, forecasters say. Because dealerships typically generate bigger margins selling used vehicles than new ones, U.S. franchised dealers will be better positioned for the change than the manufacturers and suppliers of new vehicles. The most challenging environment in 2018 … Continued