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BYD Motors, Cox Automotive Announce Groundbreaking Service Partnership in U.S. Market 09/28/2023 ATLANTA (Sept. 27, 2023) – BYD Motors and Cox Automotive announced today the two companies have entered into a service agreement that covers BYD customers and their growing fleets of class 6 and class 8 trucks within the United States with 24/7 roadside support and a nationwide network of EV-trained service technicians. “This agreement with a nationally respected fleet services leader in Cox Automotive bolsters the… Read Article

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New-Vehicle Market Shrugs Off High Loan Rates, UAW Strike, Closes Q3 on a Strong Note; September Sales Forecast by Cox Automotive to be Up 13% Year Over Year 09/26/2023 ATLANTA, Sept. 26, 2023 – The U.S. auto industry’s robust year-over-year sales recovery continued in the third quarter, according to a forecast released today from Cox Automotive. Despite rising interest rates on new-vehicle loans and a strike by the United Auto Workers against the major domestic automakers, sales volumes in September are forecast to reach nearly 1.3 million, an increase of more than 13% from 2022.… Read Article

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Cox Automotive Names Scott LeTourneau Chief Financial Officer 09/15/2023 ATLANTA, Sept. 15, 2023 — Cox Automotive announced today that Scott LeTourneau will become its new executive vice president and chief financial officer, effective September 19, 2023. LeTourneau has been with Cox since 2012 in various corporate development roles, most recently serving as senior vice president of corporate development for parent company Cox Enterprises. He is a proven finance leader with deep expertise in executing strategic… Read Article

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High Interest Rates and Slow Economy Repress U.S. Automobile Dealer Sentiment 09/08/2023 ATLANTA, Sept. 8, 2023 – Overall dealer sentiment in the U.S. held mostly steady in Q3 2023 compared to Q2, as high interest rates and economic concerns weigh heavily on the U.S. auto market, according to the Cox Automotive Dealer Sentiment Index (CADSI). The Q3 current market index was 45, still below the threshold of 50, indicating that more dealers see the current auto market as… Read Article

Cox Automotive Dealer Sentiment Index CADSI Press Releases

Cox Automotive Forecast: With New-Vehicle Inventory at a Two-Year High, August Auto Sales Expected to Increase Nearly 19% Year Over Year 08/24/2023 ATLANTA, Aug. 24, 2023 – New-vehicle sales, when announced next week by automakers, are expected to once again show big gains over last year but a slight decline in the sales pace from last month. A key reason for the volume gain is new-vehicle inventory hitting its highest level in more than two years. Stronger fleet sales are also expected to support higher sales volumes. The… Read Article

new-vehicle sales sales forecast SAAR Press Releases

Cox Automotive Acquires Corcoran’s Mobile Services 08/09/2023 ATLANTA (Aug. 9, 2023) – Cox Automotive today announced the acquisition of leading onsite fleet maintenance provider Corcoran’s Mobile Services (CMS). The acquisition further expands Cox Automotive’s nationwide fleet maintenance coverage, underscoring its continued commitment to safely servicing trucks and trailers. “We thrive on delivering a seamless experience 24/7, powered by our more than 1,400 elite technicians ensuring customers’ fleets keep moving,” said Ted Coltrain, VP of Operations,… Read Article

Cox Automotive Mobility Press Releases

Cox Automotive Forecast: New-Vehicle Sales Accelerate in July 07/26/2023 Update, Aug. 2, 2023 – New-vehicle sales in July likely came in near 1.30 million, an increase of more than 15% over year-ago levels and very close to the Cox Automotive forecast (below) published last week. (Hat tip to our senior economist.) Vastly increased inventory levels and a general improvement in consumer sentiment are helping fuel stronger sales in the U.S. Recovering fleet business – notably… Read Article

new-vehicle sales sales forecast SAAR Press Releases

Cox Automotive’s Upside Offering Expands to the West Coast, Linking Sellers and Buyers Across the U.S. 07/14/2023 ATLANTA – July 14, 2023 – After a successful launch and aggressive expansion in the eastern U.S., Cox Automotive has now enabled sellers in California to join in the Upside™ wholesale experience. This significant expansion brings on sellers throughout California, making it easier for buyers in the western half of the country to find attractive inventory closer to home in the Upside Direct sale. To date,… Read Article

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Manheim Report: Used Vehicle Values Fall for Third Straight Month; Wholesale Prices Down More Than 10% Year Over Year 07/10/2023 ATLANTA, July 10, 2023 – The Manheim Used Vehicle Value Index (MUVVI) declined to 215.1 in June, ending the first half of 2023 down 10.3% from a year ago. Additionally, wholesale used-vehicle prices (on a mix, mileage, and seasonally adjusted basis) decreased by 4.2% in June. This decrease, a record for June, was impacted by the seasonal adjustment and other factors, including multiple holiday weekends. The… Read Article

Manheim Used Vehicle Value Index MUVVI Press Releases

Cox Automotive Forecast: New-Vehicle Sales to Increase More Than 11% Year Over Year Through the First Half of 2023 06/27/2023 Updated, July 6, 2023 – In the first half of 2023, the U.S. new-vehicle market has been surprisingly strong, with sales volume increasing more quickly than forecast as the industry’s inventory issues faded. Sales in June, as we’ve seen in many months prior this year, surprised to the upside, with volume beating the Cox Automotive forecast. The June sales pace has been initially estimated at 15.7… Read Article

new-vehicle sales sales forecast SAAR Press Releases